Escrow Watch: These ASX stocks have a bunch of shares coming to market
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Some 20 ASX small cap stocks will lift the lid on escrowed shares in coming weeks.
Escrow is a period in which shareholders are stopped from trading the stock they own.
Escrowed securities tend to belong to company directors, who are often restricted from selling stock for two years after listing, or major shareholders who can escrow stock for a specified period.
The release of shares from escrow can weigh heavily on a company’s share price. Each month ASX notices signal millions of securities for release.
Companies releasing stock over the next few weeks include strata manager software maker Urbanise (ASX:UBN), which is releasing 63.5 million shares on August 7 and another 797,000 a week later. All up that’s more than 12 per cent of the 530 million shares it has on issue.
Meanwhile, sleep apnoea business Oventus (ASX:OVN) has 37 million shares coming out on July 24 – around a third of the 106 million it has on issue.
Crazy Domains owner Dreamscape Networks (ASX:DN8) will see 42 million shares emerge on July 31, 11 per cent of its 387 million shares on issue.
Here’s a list of the ASX businesses that have signalled escrow releases over the next four weeks: