These are the upcoming stock splits for the week of July 29 to August 2, based on TipRanks’ Stock Splits Calendar. A stock split is a corporate action in which, the company issues additional common shares to increase the number of outstanding shares of the company. Accordingly, the stock price of the company’s shares decreases, which maintains the market capitalization before and after the split. In contrast, there are also reverse stock splits that reduce the number of outstanding shares (consolidate). In this case, too, the market cap is maintained as the share price increases following the reverse stock split.
Companies often undertake stock splits to improve the liquidity of the common shares and make them more affordable to common investors. Let’s look quickly at the upcoming stock splits for the week.
Meta Data Limited ADS (AIU) – Meta Data operates as a core Metaverse technology company and offers solutions to the education field. The company provides technical solutions for creating smart campuses, smart training, and AI (artificial intelligence) computing power. On July 19, Meta Data announced a 1-for-5 reverse stock split (consolidation) of its common shares to comply with the New York Stock Exchange’s (NYSE) minimum bid price requirement for its ADS (American depositary shares). The reverse stock split took effect this morning, and the ADS are expected to start trading on a split-adjusted when markets open.
Ashford Inc. (AINC) – Ashford Inc. is a global asset management company that offers asset management, investment management, and related services to the real estate and hospitality sectors. On July 22, Ashford announced that shareholders approved a 1-for-10,000 reverse stock split of AINC shares in a Special meeting. Moreover, shareholders approved a forward stock split of 10,000-for-1 of its common stock. This decision was taken to delist Ashford’s common shares from the NYSE American exchange to save the expenses associated with being a publicly traded company.
Sacks Parente Golf, Inc. (SPGC) – Sacks Parente Golf is a technology-forward golf company. SPGC manufactures and sells putting instruments, golf shafts, golf grips, and other golf-related products. On July 24, SPGC’s board approved a 1-for-10 reverse stock split of its common shares to comply with the Nasdaq Capital Market’s minimum bid price requirement of $1 per share. SPGC shares will undergo the reverse split on July 30 and start trading on a split-adjusted basis when the market opens.
Concord Medical Services Holding Ltd. (CCM) – China-based Concord Medical Services is a medical service provider with a focus on cancer prevention, diagnosis, treatment, education, and research. The company operates radiotherapy and diagnostic imaging centers in China. On July 12, Concord Medical announced a change to its ADS structure that will result in a reverse stock split of 1-for-10 ADS. The structure has been changed from one ADS representing 3 Class A shares to one ADS representing 30 Class A shares. The ADS will start trading on a split-adjusted basis on July 30. The company took the decision to comply with NYSE’s minimum pricing requirement for its ADS.
Viridien SA (CGGYY) – Viridien is a technology-based digital and geological company. It combines human ingenuity, data, and new technology to understand and solve natural resource, environmental, and infrastructure challenges for a more sustainable future. On June 27, Viridien undertook a reverse stock split in the ratio of 1-for-100 of its common shares. The shares are expected to start listing on a split-adjusted basis on July 31, on the Euronext stock exchange.
XMReality AB (XMMRF) – XMReality is a technology company that offers remote visual assistance solutions using AR (augmented reality). On June 28, XMReality’s board approved a rights issue in the ratio of 1-for-1 share. Each existing shareholder will receive one subscription right, which in turn entitles the holder to subscribe for 7 new shares at a set price of SEK 0.05 apiece. The rights issue will be effective on August 1.
To find more information about historical and upcoming stock splits, visit the TipRanks Stock Splits Calendar.
Disclosure
Credit: Source link
