Gates Industrial shares are trading lower after the company announced a secondary offering of 17.5 million ordinary shares.
Portfolio Pulse from Benzinga Newsdesk
Gates Industrial shares are trading lower following the announcement of a secondary offering of 17.5 million ordinary shares.
May 15, 2024 | 8:33 pm
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Gates Industrial shares are trading lower after the company announced a secondary offering of 17.5 million ordinary shares.
The announcement of a secondary offering typically dilutes the value of existing shares, leading to a decrease in share price. This is reflected in the immediate trading lower of GTES shares.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100