Cemtrex Board Approves 1-for-35 Reverse Stock Split

Dow Jones11-22

By Connor Hart

The board of Cemtrex has approved a 1-for-35 reverse stock split.

The company -- which owns Vicon Industries, a security and surveillance company, and Advanced Industrial Services, an industrial contracting services provider -- said Thursday that the reverse stock split is intended to allow it to regain compliance with the minimum closing bid price requirement for continued listing on Nasdaq.

The company's shares, which will continue to trade on the Nasdaq under the ticker CETX, will begin trading on a post-split basis when the market opens Tuesday.

Shares have declined over 99% since the beginning of the year. The stock tumbled 31%, to 14 cents, in after-hours trading. They ended the regular session down 16% at 20 cents.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 21, 2024 17:55 ET (22:55 GMT)

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