Credo Announces Commencement Of Public Offering Of 10M Of Its Ordinary Shares
Portfolio Pulse from Benzinga Newsdesk
Credo has initiated a public offering of 10 million of its ordinary shares, with 8.94 million shares offered by Credo itself and 1.06 million shares by selling shareholders.
December 05, 2023 | 10:01 pm
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Credo's public offering of 10 million shares may dilute existing shareholders and could lead to a short-term decrease in stock price.
Public offerings often result in dilution of existing shares, which can lead to a decrease in stock price as the market absorbs the additional supply. Given that a significant portion of the offering is from the company itself, this dilution effect is likely to be more pronounced.
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