VCI Global (VCIG) said Friday it will implement a 1-for-49 reverse stock split, effective Nov. 5.
The reverse stock split is intended to raise the market price of the company's shares and regain compliance with Nasdaq's minimum bid price requirement for continued listing.
The company said the reverse stock split is expected to reduce the number of its outstanding shares to about 4 million from about 202.2 million. VCI Global shares will continue trading on Nasdaq on a split-adjusted basis from Tuesday under the same "VCIG" ticker.
Price: 0.0656, Change: -0.01, Percent Change: -18.51
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments