These are the upcoming stock splits for the week of October 14 to October 18, 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. Accordingly, the stock price of the company’s shares decreases, which maintains the market capitalization before and after the split.
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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 for retail investors. Let’s look quickly at the upcoming stock splits for the week.
PT Indosat Tbk Class B (PTITF) – PT Indosat Tbk (also known as Indosat Ooredoo Hutchison) is an Indonesian telecommunications provider that is owned by the joint venture Ooredoo Hutchison Asia. In September, the company’s board approved a four-for-one stock split to boost liquidity of the shares. The stock will start trading on a split-adjusted basis on October 14.
ShiftPixy (PIXY) – ShiftPixy is a national staffing enterprise that facilitates employment in the rapidly growing gig economy. Last month, the company announced a one-for-15 reverse split of its common stock, effective October 14.
Continental Beverage Brands (CBBB) – Blue Chip Technologies (previously known as Continental Beverage Brands) offers data analytics software. Earlier this year, Blue Chip announced that it has applied for a name change to Catalyst Crew Technologies Corp. to reflect the company’s new business direction and a one-for-450 reverse stock split. Shares will start trading on a split-adjusted basis on October 14.
Neometals Ltd. (NMTAF) – Neometals offers sustainable processing solutions that recycle and recover critical materials from high-value waste streams. Last week, the company announced a placement offer of 44,444,445 new fully paid ordinary shares to raise about AU$4 million.
The new shares will be offered through a standard pro rata issue and a separate placement. The pro rata issue has an ex-date of October 15 and a record date of October 16.
AGBA Acquisition Limited (AGBA) – AGBA is a multi-channel business platform that offers financial services through machine-learning technologies. The company is expected to close its merger with Triller, an AI-powered, social media and live-streaming event platform, on October 14.
As part of the merger process, a reverse one-for-four stock split will be executed to remain in compliance with Nasdaq rules. Shares will start trading on a split-adjusted basis under the new ticker symbol “ILLR” on Nasdaq on October 15.
Hydrocarbon Dynamics (PYMOF) – Hydrocarbon Dynamics is an energy company that provides an oil technology for the swift, clean, and cost-effective treatment of heavy, asphaltenic, and paraffinic oils. On October 10, the company announced a one-for-three non-renounceable rights issue at $0.03 per share to raise up to $800,000.
Further, one free unlisted option will be issued for every two new shares. This option will be exercisable at 0.5 cents and expire in 12 months from the issue date. Funds raised from the rights issue will be used for marketing the key product HCD Multi-Flow, to review investment opportunities in the energy and energy technology space, and for general working capital purposes. Shares will start trading on an ex-entitlement basis on October 15.
AgEagle Aerial Systems Inc. (UAVS) – AgEagle Aerial provides full-stack flight hardware, sensors, and software for commercial and government use. Earlier this month, the company’s board approved a one-for-fifty reverse stock split to meet the per-share price requirements of the NYSE American exchange. Shares will start trading on a split-adjusted basis on October 15.
Brookside Energy Limited (RDFEF) – Brookside Energy is an oil and gas producer having a focused portfolio of onshore assets in the U.S. The company is implementing a one-for-50 share consolidation or reverse stock split, which will reduce the number of shares while proportionally increasing the share price.
With this decision, Brookside intends to meet the minimum price threshold condition on the NYSE American exchange. Trading in the shares on a post-consolidation basis will start on October 16.
23Andme Holding Co. (ME) – 23Andme is a genetics-based consumer healthcare and therapeutics company. On October 11, the company announced a 1-for-20 reverse stock split of its Class A and Class B common stock. Shares will start trading on a split-adjusted basis on October 16.
ESR-REIT (CGIUF) – ESR-REIT is a Singapore-based real estate investment trust (REIT) that is focused on industrial assets. The company recently announced a non-renounceable, non-underwritten rights issue. ESR-REIT is offering preferential units for every 100 existing units to raise gross proceeds of up to S$94.0 million. The ex-date for the offer is October 17 and the record date is October 18.
To find more information about historical and upcoming stock splits, visit the TipRanks Stock Splits Calendar.
