Gates Industrial shares are trading lower after the company announced pricing of a secondary offering of 15 million ordinary shares.
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial's stock price is trading lower following the announcement of a secondary offering of 15 million ordinary shares.

December 08, 2023 | 1:39 pm
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Gates Industrial's stock price is expected to face downward pressure in the short term due to the announced secondary offering of 15 million shares, which could lead to share dilution.
Secondary offerings often lead to dilution of existing shares, which can result in a decrease in share price as the market absorbs the additional supply. The direct announcement of the secondary offering by Gates Industrial is likely to have a negative impact on the stock price in the short term.
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