May 22nd - $ATLANTIC SAPPHIRE ASA (AASZF.US)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from May 30th, 2024.
$ATLANTIC SAPPHIRE ASA (AASZF.US)$ slipped 16.67% and closed at $0.1 on May 21st with a turnover of $1,100. $ATLANTIC SAPPHIRE ASA (AASZF.US)$ now has a total market capitalization of $112.1 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.