VeriSign shares down after Berkshire's $1.2 bln stake sale priced

VeriSign,

29/07/2025 11:17

** Shares of internet and domain name registry firm
    VeriSign VRSN.O down 5.8% premarket to $288.14 after Warren Buffett's Berkshire Hathaway BRK.a.N unloads stake worth about $1.2 bln

    ** Reston, Virginia-based VRSN late Mon announced secondary offering of 4.3 mln shares priced at $285, a 6.9% discount to last sale

    ** If full overallotment option is exercised, Berkshire's stake would go to roughly 8.5 mln shares, or 9%, per the prospectus

** Berkshire has voluntarily agreed with sole underwriter JP Morgan that the remaining shares it and its affiliates own will be subject to a 365-day lock-up

    ** VRSN shares on Mon rose 0.1% to $305.98, a fresh record high close, after touching new intraday record high of $310.60

    ** YTD, stock up 48% through Mon

    ** 2 of 4 analysts covering VRSN rate stock "strong buy", the other 2 rate "hold" and median PT is $337, latest LSEG data reflects

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))