Westaim Has Sold All Of The Remaining 1,919,639 Common Shares It Held, Through A Wholly-Owned Subsidiary, In Skyward Specialty Insurance Group; The Net Proceeds From Such Sale, Less Commissions, Were ~$79M
Portfolio Pulse from Benzinga Newsdesk
Westaim has sold all of its remaining shares in Skyward Specialty Insurance Group, totaling 1,919,639 shares, for net proceeds of approximately $79 million.
September 10, 2024 | 8:12 pm
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NEUTRAL IMPACT
Westaim's complete divestment of its shares in Skyward Specialty Insurance Group could lead to short-term volatility in SKWD's stock price due to the change in shareholder composition.
The sale of a significant number of shares by a major shareholder like Westaim can lead to short-term stock price fluctuations due to changes in market perception and shareholder composition. However, the long-term impact depends on the market's view of the company's fundamentals.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80