Dilution from New Share Issuance and Stock Acquisition Rights Exercises, and Share Sale Risk
First written in FY2024. 12 of 14 entries say "Worsened", first in FY2025-H1. Latest entry: 2026-09-11.
Astroscale Holdings moved to the "Worse" side of this theme in 2024, 3 years after the typical company in this theme (2021).
The whole theme swung hardest in 2017: 17 of 34 companies on the "Worse" side.
16 other companies' latest entry also says "Worsened".
- FY2026WorsenedAnnual report
「The potential dilution rate if all bonds with share acquisition rights newly issued through the international offering and third-party allotment are converted is 10.59%.」
The issuance of new shares and bonds with share acquisition rights in May 2026 created additional potential dilution. As of the date of submission, the number of issued shares was 141,780,800. - FY2026-H1WorsenedAnnual report
「Balance as of 30 April 2025: 117,517,800 Balance as of 31 October 2025: 135,606,500」
The number of issued shares increased from 117,517,800 to 135,606,500 through the issuance of 18,000,000 shares in an overseas offering and the exercise of share acquisition rights, further crystallizing the potential for dilution. - FY2025-H1WorsenedAnnual report
「Balance as of 31 October 2024 116,723,300」
The number of issued shares increased from 90,859,200 as of 30 April 2024 to 116,723,300. Additional shares were issued through a public offering, third-party allotments and exercise of share acquisition rights, making the dilution risk more concrete. - FY2024First statedAnnual report
「The issuance of 11,906,300 new shares may dilute the value of the Company's shares on a per-share basis.」
The Group disclosed supply-demand and dilution risks from public offerings after listing, third-party allotments, share acquisition rights and sales of shares held by venture capital firms.