Opera slides as CEO sheds stake in share offering

Opera

29/09/2023 14:02

** U.S.-listed shares of internet browser developer Opera
 OPRA.O  down 5.8% at $12.29 premarket after secondary offering
prices
    ** Oslo, Norway-based firm late Thurs announced ~6.9 mln
ADSs sold by shareholder at $12.25 (each ADS = 2 ordinary
shares)
    ** OPRA shares on Thurs tumbled 11.3% to $13.04 after co
launched the offering
    ** Opera chairman/CEO James Yahui Zhou sells entire 7.7%
direct stake, but retains indirect control via majority stake in
Opera's 72% shareholder, Chinese internet firm Kunlun Tech
 300418.SZ 
    ** Through Thurs close, OPRA shares up ~133% YTD but down
~54% from record intraday peak hit in Jul

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))