These are the upcoming stock splits for the week of September 23 to September 27, according to TipRanks' stock split calendar. A stock split is a corporate action in which a company issues additional common stock to increase the number of shares outstanding. The price of the company's stock falls accordingly, and the market capitalization before and after the split remains the same. In contrast, there are reverse stock splits (consolidations) that reduce the number of shares outstanding. Again, in this case, the market capitalization remains the same, as the stock price rises after the reverse stock split.
Companies often implement stock splits to increase the liquidity of their common stock and make it more affordable for retail investors. Here's a quick look at the stock splits scheduled for this week.
Select Harvests Limited (SHVTF) – Australia-based Select Harvests is a leading almond grower. The company recently announced an $80 million recapitalization, which includes raising approximately $30 million through a fully underwritten institutional offering to selected institutional investors and approximately $50 million through an accelerated non-renounceable rights share offer on a pro rata basis to eligible shareholders.
The company said the new shares issued through the offering and rights grant will be treated equally with existing issued shares (a 1:1 offer). The shares will resume trading on a rights basis on September 23rd.
MultiPlan Corporation (MPLN) – MultiPlan provides technology and data-enabled cost management, payment and revenue integrity solutions to the U.S. healthcare industry. Earlier this month, the company announced a 40-for-1 reverse stock split of its outstanding Class A common stock with the intent of increasing the trading price per share in order to comply with the NYSE's continued listing price standards. The split will be effective after the market closes on September 20, 2024, and the shares will begin trading on a consolidated basis beginning September 23.
Vertical Aerospace (EVTL) – Vertical Aerospace specializes in electric aircraft. Last week, the company announced a 1-for-10 reverse stock split to boost its stock price and comply with the NYSE's minimum share price requirements. The stock will begin trading at the reverse stock split-adjusted price on September 23rd.
Reshape Lifesciences (RSLS) – Reshape Lifesciences offers weight loss and metabolic health solutions. The company announced a 58-for-1 reverse stock split on September 19th. The reverse stock split will be effective on September 23rd.
Ortrak, Inc. (OTRK) – Ontrak helps people with behavioral and chronic illnesses through AI-powered engagement and telehealth interventions. The company announced on Sept. 19 that it would reverse split its common stock at a ratio of 1:15, effective Sept. 23. The purpose of the stock split is to increase the bid price of its shares and put it back in compliance with Nasdaq's minimum bid price requirement of $1.00 for continued listing.
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Traws Pharma, Inc. (TRAW) – Traws Pharma is a biopharmaceutical company focused on developing novel product candidates for respiratory viral diseases and cancer. Last week, the company announced that its board of directors approved a 25-for-1 reverse stock split effective September 20th. The shares will begin trading on a consolidated basis on September 23rd.
The move will reduce the number of shares outstanding from approximately 45.7 million to approximately 1.8 million, improve the marketability of the shares and ensure compliance with Nasdaq's listing requirements.
Quantum Cobalt (BRVVF) – Quantum Battery Metals (formerly Quantum Cobalt) announced a 1-for-8 reverse stock split, which will reduce the total number of shares outstanding from 52.2 million to approximately 6.53 million shares. The shares will begin trading on a consolidated basis on September 24th, instead of September 23rd as previously announced.
Beasley Broadcast (BBGI) – Beasley is a multi-platform media company that operates radio stations across the U.S. The company announced on September 19 that its board of directors had approved a 20-for-1 reverse stock split of its Class A and Class B common stock to once again comply with the $1.00 minimum bid price requirement necessary to remain listed on Nasdaq.
The reverse stock split will take effect on Sept. 23, and the shares will begin trading on a split-adjusted basis on Sept. 24.
Prairie Provident Resources (PRPRF) – Calgary-based Prairie Provident is engaged in oil and natural gas exploration and development in Alberta. The company announced a $13.2 million rights issue on September 13. The issue is supported by a participation commitment of $11.6 million from its largest shareholder, PCEP Canadian Holdco, and $400,000 from directors and management.
Pursuant to the rights offering, each Prairie Provident shareholder will receive one rights for each common share held as of the close of business on September 24, 2024.
E-Home Household Service Holdings Ltd. (EJH) – E-Home is a China-based company that provides home appliance and housekeeping services. The company recently disclosed that its extraordinary shareholders meeting held on September 16, 2024 approved a 10-for-1 reverse stock split. The shares will begin trading at the post-split price on September 24, 2024. The reverse stock split will allow the company to once again comply with Nasdaq's minimum bid price rules.
Arqit Quantum (ARQQ) – Arqit Quantum offers proprietary encryption software services that protect network devices, cloud machines, or data communication links from encryption attacks. Last week, the company announced a 25-for-1 reverse stock split. The stock will begin trading on a split-adjusted basis on September 25th. With this reverse stock split, Arqit will once again be in compliance with Nasdaq's requirement of a minimum bid price of $1.00 per share.
Nitto Denko Corporation (NDEKF) – Nitto Denko is a Japanese company that develops a wide range of products across businesses such as electronics, automotive, housing, infrastructure, environment, and medical. In May, the company's board of directors decided to implement a 1-for-5 stock split to increase the liquidity of the shares. The shares will start trading on a split-adjusted basis from September 27th.
Sumitomo Mitsui Financial Group (SMFNF) – Sumitomo Mitsui Financial Group is a financial holding company that provides a wide range of financial services. The company announced a 3 for 1 stock split with the aim of making its shares more accessible to a wider range of investors. After the stock split (effective September 27th), the ADR (American Depositary Receipt) ratio will change from 1 ADR: 0.2 common shares to 1 ADR: 0.6 common shares.
Sony Corporation (SNEJF) – Sony is a Japanese consumer electronics manufacturer. Earlier this year, the company announced a 5-for-1 stock split, signaling its intention to lower the price per unit of stock to make its shares more affordable and broaden its investor base. The shares will start trading at the split-adjusted price on September 27th.
Japan Petroleum Exploration Co., Ltd. (JPTXF) – Japan Petroleum Exploration Co., Ltd. is engaged in the exploration, development, and production of oil and natural gas. The company decided at the board of directors meeting held on May 14, 2024 to split its shares into 5 for 1 in order to increase the liquidity of its shares and expand its investor base. The change in the price adjustment factor (PAF) for Nikkei 500 stocks will take effect on September 27.
Japan Exchange Group Inc. (OSCUF) – Tokyo-based Japan Exchange Group operates a financial instruments exchange to ensure a reliable venue for market participants to trade listed securities and derivative products. The company announced a two-for-one stock split in May to lower the minimum amount required to invest in shares and increase liquidity for the stock.
Hamamatsu Photonics K.K. (HPHTF) – Hamamatsu Photonics manufactures high-performance devices such as photomultiplier tubes, optical semiconductors, light sources, and image processing and measurement instruments. The company announced a 2-for-1 stock split to lower the price per unit of stock and increase liquidity of the stock. The stock split will be effective on September 27th.
Dai Nippon Printing Co., Ltd. (DNPCF) – Dai Nippon Printing is a Japanese printing company. In August, the company’s board of directors approved a two-for-one stock split to make shares more accessible to more investors. Shares will start trading at the split-adjusted price on September 27th.
Asahi Group Holdings (ASBRF) – Asahi Group offers multiple brands across beer, alcoholic and non-alcoholic beverages, and food categories. In early August, the company announced that it had resolved to implement a 1-for-3 stock split to improve the liquidity of its shares. The split will be effective on September 27, 2024.
Yamaha Corporation (YAMCF) – Yamaha’s business focuses on musical instruments, audio equipment, industrial machinery and parts. At a board meeting held on July 31, 2024, the company’s board of directors resolved to implement a 1-for-3 stock split in order to lower the share price per share and broaden the investor base. The shares will begin trading on a split-adjusted basis on September 27.
OBIC Co., Ltd. (OBIIF) – OBIC is a Japan-based information technology (IT) company that provides a variety of services, including computer system integration, office automation, and system support. The company resolved at its board of directors meeting held on July 24, 2024 to split its common stock at a rate of 5 for 1. The stock split will take effect on September 27.
Nidec Corporation (NNDNF) – Nidec is a motor manufacturing company that offers a wide range of product lines from small precision motors to extra-large motors. In July, the company's board of directors approved a 2-for-1 stock split to increase liquidity. Shares will begin trading on a split-adjusted basis on September 27th.
Aisin Seiki Co., Ltd. (ASEKF) – Aisin Seiki is a Japanese company that supplies automotive parts globally. At a board meeting held on June 27, 2024, the company's board of directors resolved to implement a 1-for-3 stock split in order to lower the share price and broaden the investor base. The shares will start trading on a split-adjusted basis from September 27.
Secom Co., Ltd. (SOMLF) – Japan-based Secom provides security services. The company announced a 2-for-1 stock split to lower its share price and make the stock more attractive. The shares will start trading on a split-adjusted basis on September 27th.
Nippon Building Fund (NBFJF) – Nippon Building is a Japanese REIT (real estate investment trust) focused on office properties. In August, the company announced a 5-for-1 stock split to increase the liquidity of its shares. The company said the split will increase the number of investment units issued from 1.7 million to more than 8.5 million. Shares will trade at the split-adjusted price starting September 27th.
Shionogi & Co., Ltd. (SGIOF) – Shionogi & Co., Ltd. is a Japanese pharmaceutical company that is primarily focused on developing new drugs for infectious diseases. In late August, the company announced that its board of directors approved a 1-for-3 stock split in order to lower the price per investment unit and expand its investor base. The shares will begin trading on a split-adjusted basis on September 27th.
For more information on past and upcoming stock splits, check out the TipRanks stock split calendar.
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