Alvotech shares are trading lower. The company announced it has increased its share capital by $130,000 by issuing 13,000,000 ordinary shares.
Portfolio Pulse from Benzinga Newsdesk
Alvotech's stock is trading lower following the announcement of a share capital increase by $130,000 through the issuance of 13,000,000 ordinary shares.
March 25, 2024 | 4:40 pm
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Alvotech's stock price is trading lower after the company announced an increase in share capital by $130,000, issuing 13,000,000 new shares.
The issuance of new shares often leads to dilution of existing shareholders' equity, which can result in a negative short-term impact on the stock price. Given the significant number of shares issued, investors may be concerned about dilution, hence the negative price movement.
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