Futu News reported on November 20 that after three consecutive days of weakening and falling nearly 20% in stock prices, seashells rebounded in the pre-market today, rising 4.14% to 61.81 US dollars before the current market.

Yesterday, Shell announced that it will issue an additional 35.4 million ADS (American Depositary Shares) at a public price of $58 per ADS share. Each ADS share represents 3 Class A common shares. The offering is expected to be completed on November 23, 2020.

The company plans to use the proceeds from this sale to expand its range of services, expand into new regions and invest in its infrastructure, identify potential strategic opportunities, and use it for working capital and general corporate purposes.