Capital B approves 10-for-1 reverse stock split
Capital B approved a 10-for-1 reverse stock split, reducing about 300.7 million shares to roughly 30.1 million, raising par value to €0.80 and taking effect Sept. 8.
Capital B approved a 10-for-1 reverse stock split that will reduce its outstanding shares from about 300.7 million to roughly 30.1 million and raise the par value to €0.80 from €0.08 per share. The conversion will take effect on Sept. 8 and will occur automatically, with each new share replacing ten existing shares. Capital B said the change will not alter the aggregate value of investors’ holdings.
The company is listed on Euronext Growth Paris and described the consolidation as intended to broaden its institutional investor base and make the stock more appealing to a wider pool of investors.
At the time of the announcement Capital B reported holding 3,139 Bitcoin. In a separate vote last month, shareholders approved up to €105 billion in financing capacity to support the company’s strategy to acquire additional Bitcoin and expand its treasury holdings.
A reverse stock split consolidates the number of shares and raises the per-share price. Companies often cite such consolidations to satisfy listing requirements or to attract institutional investors that prefer higher-priced shares.
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