Navigator Reports Public Offering Of 6M Shares By Selling Shareholder BW Group; Company Plans 3M Share Concurrent Repurchase
Portfolio Pulse from Benzinga Newsdesk
Navigator Holdings Ltd. (NVGS) announced a public offering of 6 million shares by selling shareholder BW Group. Concurrently, the company plans to repurchase 3 million shares from the underwriters at the same price per share as the offering.
June 11, 2024 | 8:27 pm
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Navigator Holdings Ltd. (NVGS) is conducting a public offering of 6 million shares by BW Group and plans to repurchase 3 million shares concurrently.
The public offering of 6 million shares by BW Group could initially put downward pressure on NVGS stock due to increased supply. However, the company's plan to repurchase 3 million shares may offset this impact, leading to a neutral short-term price direction.
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