Luiza Magazine announced Friday that its board of directors has approved a proposed reverse stock split in the ratio of 10 to 1 to “reduce volatility” of the shares, according to a relevant fact.
The company, which had previously approved a capital increase worth 1.5 billion reais, specified that the grouping will concern the current 7,389,952,489 shares of the company and that the proposal will be submitted to the extraordinary meeting of the company for examination. society.
Source: Terra
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