Vishay Intertechnology Prices $750M Stock Offering at $50/Share
VSH has more than doubled off its 52-week low of $11.77.
Summary
Vishay Intertechnology priced its public offering of 15 million common shares at $50 per share, raising $750 million. This follows the proposed offering announced earlier today via Dow Jones Newswires and an SEC filing. The offering is significantly dilutive, representing nearly 10% of the company's market capitalization, and the pricing below the current market price of $53.14 is a negative signal for existing shareholders.
At the time of this announcement, VSH was trading at $53.14 on NYSE in the Manufacturing sector, with a market capitalization of approximately $7.7B. The 52-week trading range was $11.77 to $69.47. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.