Western Midstream Partners shares are trading lower after the company reported the commencement of a secondary public offering of 19 million common units representing limited partner interests by affiliates of Occidental.
Portfolio Pulse from Benzinga Newsdesk
Western Midstream Partners shares are trading lower following the announcement of a secondary public offering of 19 million common units by affiliates of Occidental.
August 13, 2024 | 10:24 am
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Western Midstream Partners shares are trading lower due to the announcement of a secondary public offering of 19 million common units by affiliates of Occidental.
The announcement of a secondary public offering typically leads to a dilution of existing shares, which can negatively impact the stock price in the short term. The market's reaction to the news has already been observed with a drop in WES shares.
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