Here's Why Pagseguro Digital Stock Is Plunging Today

Brazilian online-payment company PagSeguro Digital (NYSE: PAGS) announced on Monday that it would issue 11.55 million new shares, an increase of nearly 4% in the company's outstanding share count.What's more, controlling shareholder Universo Online said that it is proposing to sell 21.45 million shares of PagSeguro. So that's a total of exactly 33 million shares of the company that will be sold.Thanks to these announcements, the stock is down by about 15% as of 11 a.m.

Topics:  digital nyse   pags    universo online   pagseguro   stock   shares   company   million   
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