Adlai Nortye Ltd. (ANL) - Dilution Analysis

Visualizing historical and potential share dilution over time

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Dilution Analysis

Medium Risk

Moderate dilution risk

Last updated: March 10, 2026

Risk Assessment Details

Potential Dilution: 58.37% of current shares

Recent Dilution: 0% (2 years)

Historical Dilution Factor: minimal recent dilution

Outstanding Shares

110M

Potential Supply

65M

Additional shares possible

Splits

None

Past 2 years

Summary

ANL currently has 111M outstanding shares. with significant dilution risk as 64.6M authorized shares could dilute existing holders by 58.4%. The company has not diluted shareholders through share issuances in the past 2 years, which is positive for existing holders.

Share Structure Timeline

Outstanding Shares

Total Supply

Historical Data Points

Date	Event	Outstanding	Supply
Mar 10, 2026	F-3 filing: Adlai Nortye Ltd. is offering up to US$600,000,000 of Class A ordinary shares, including Ordinary Shares represented by American Depositary Shares, and selling shareholders may offer and sell up to 64,615,386 Class A Ordinary Shares.	110M	65M
Apr 30, 2025	20-F filing \| 110.7M shares outstanding	110M	0
Apr 19, 2024	20-F filing \| 110.7M shares outstanding	110M	0

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