RE:offeringjeanstk wrote: Why does an offering push the price lower? Anyone.
The underwriters in the offering, in this case Nat BAnk i believe... get shares at a 5% or maybe higher discount to the offering price. Kind of an incentive to push the offering to wealthy clients.
But they then either sell off their shares at a slight profit or they shortsell and cover later with the lower-priced acquired shres.