Constellation is looking to up the amount of authorised Class A common stock available. The US company said yesterday (6 June) that it hopes to increase its stock to 300m shares from 275m.

In a filing with the Securities and Exchange Commission, Constellation said that it hopes to get shareholder approval for the move at its annual meeting on 28 July. Subject to this approval, the company's aggregate number of authorised shares would rise to 331m.

As well as the 275m Class A shares, Constellation currently has permission to issue 30m shares of Class B common stock and 1m preferred shares.

The increase will be used primarily to provide sufficient authorised shares to allow the issuance of shares under Constellation's stock-based plans, the company said. The shares authorised by the increase would also be available for occasional use for corporate purposes, the filing said.