Prenetics Global Announces Reverse Stock Split Of Its Outstanding Ordinary Shares At A Ratio Of 1-For-15
Portfolio Pulse from Benzinga Newsdesk
Prenetics Global has announced a reverse stock split of its outstanding ordinary shares at a ratio of 1-for-15.
November 01, 2023 | 10:03 am
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Prenetics Global's reverse stock split at a ratio of 1-for-15 will reduce the number of outstanding shares, potentially increasing the stock's price.
A reverse stock split reduces the number of shares in circulation, which can lead to an increase in the stock's price as each share now represents a larger portion of the company. However, it does not change the company's overall market value. This move is often used by companies to meet stock exchange listing requirements or to make their stock more attractive to investors.
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