Deals
What $5 Billion in Share Sales May Say About the Stock Rally
- Saint-Gobain’s $2.7 billion Sika sale is year’s largest
- Equity offerings wave likely to hold strong, bankers say
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With European stocks rallying to the highest in almost three months, companies and big shareholders increasingly are deciding now is the time to sell.
Sellers announced almost $5 billion of stock offerings after the close of trading Tuesday, with large shareholders taking advantage of rebounding indexes to offload stakes and companies raising money to shore up cash balances amid the coronavirus crisis. The sales are fueling worries that the nascent recovery in markets may be nearing its peak.