CBL International Stock Up 4.99% Since IPO

Loading...
Loading...

CBL International BANL opened up its shares for public trading for the first time since it filed for IPO in August 2022. The company agreed to initially offer 3.33 million shares to the public at $4.00 per share. On its first day of trading, the stock rose 4.99% from its opening price of $4.21 to its closing price of $4.42.

CBL International Performance On First Day of Trading

About CBL International and It's IPO

CBL International Limited is an established marine fuel logistics company providing a one-stop solution for vessel refueling, which is referred to as bunkering facilitator in the bunkering industry, in the Asia Pacific.

For its IPO, BANL agreed to offer 3.33 million shares at a price of $4.00 per share, with an insider lock-up period of 180 days, ending on September 19, 2023.

An insider lock-up period is a period of time after a company first goes public where major shareholders are not allowed to sell their shares. The insider lock-up period makes sure that the market does not get oversupplied with shares of the company.

Traders may short the stock leading up to the lockup-period expiration date in hopes that the price will fall due to an increase in supply of shares. Retail traders should be watching this stock's short interest as it moves closer to lockup expiration.

See also: Benzinga's Most Shorted Stocks

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: IPOsBZI-IPORecap
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...