TD SYNNEX Launches Secondary Public Offering Of 9M Shares Held By Certain Entities Managed By Affiliates Of Apollo Global Management
Portfolio Pulse from Benzinga Newsdesk
TD SYNNEX announced a secondary public offering of 9 million shares, held by entities managed by Apollo Global Management affiliates. This move could potentially impact the stock's liquidity and market perception.
March 27, 2024 | 8:20 pm
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The secondary public offering of 9 million shares by TD SYNNEX, held by Apollo Global Management affiliates, could increase stock liquidity but may also pressure the stock price in the short term.
Secondary offerings often lead to an increase in a stock's liquidity due to the higher number of shares available for trading. However, they can also result in downward pressure on the stock price in the short term, as the market absorbs the additional supply of shares. Given that the shares are being sold by affiliates of Apollo Global Management, investors might perceive this move as a decision by informed insiders to reduce their holdings, potentially leading to negative sentiment.
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