Reported Earlier, Evogene Announces 1-for-10 Reverse Share Split
Portfolio Pulse from Benzinga Newsdesk
Evogene has announced a 1-for-10 reverse share split, reducing the number of outstanding ordinary shares to approximately 5,079,000. Trading on the Nasdaq Capital Market will begin on July 25, 2024, and on the Tel Aviv Stock Exchange on July 28, 2024.
July 23, 2024 | 4:21 pm
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Evogene has announced a 1-for-10 reverse share split, which will reduce the number of outstanding shares to approximately 5,079,000. This action is likely to impact the stock price as it adjusts to the new share structure. Trading on the Nasdaq Capital Market will begin on July 25, 2024, and on the Tel Aviv Stock Exchange on July 28, 2024.
A reverse share split typically aims to increase the stock price by reducing the number of shares outstanding. This can make the stock more attractive to institutional investors and help meet listing requirements. However, the market reaction can vary, and the actual impact on the stock price will depend on investor perception and market conditions.
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