These are the upcoming stock splits for the week of October 21 to October 25, 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.
Zoomcar Holdings, Inc. (ZCAR) – India-based Zoomcar is an online marketplace for self-drive car sharing. The platform connects hosts with guests, allowing them to choose from a wide number of listed cars at affordable prices. On October 18, Zoomcar announced a one-for-100 reverse stock split of its common stock to take effect after the market closes on October 21. Shares are expected to start trading on a split-adjusted basis on October 22. The step was taken to increase the per share trading price and comply with Nasdaq’s continued listing requirements.
Munich Re Group (MURGY) – Germany-based Munich Re Group provides insurance and reinsurance solutions worldwide including life, health, property, and casualty solutions. On October 19, MURGY announced a five-for-one stock split of its common shares, effective October 23.
Novatti Group Ltd. (NTTIF) – Australia-based Novatti Group is a fintech platform that enables payment solutions. On October 11, Novatti announced an entitlement offer of its common shares to raise additional capital of up to $5.4 million. The ex-date for the entitlement offer is October 25 and the record date is October 28.
To find more information about historical and upcoming stock splits, visit the TipRanks Stock Splits Calendar.
