14.09.2017
Manitowoc proposes share reduction
Manitowoc Crane has announced plans for a reverse stock split, whereby it will swap four existing shares for one new share in order to cut the number of shares in circulation from 300 million to 75 million.
The company believes that the resulting reduction and resulting higher price per share could improve marketability and facilitate share trading. It will hold an extraordinary shareholders meeting during the fourth quarter to seek approval for the share reduction. A two third majority is required.
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