Europe’s second-biggest Bitcoin treasury company said the September reverse stock split should attract more institutional investors to the French company.
Capital B, Europe’s second-largest Bitcoin treasury company, will consolidate its shares in a 10-for-1 reverse stock split aimed at broadening its institutional investor base.
The reverse split will reduce the number of shares to about 30.1 million from 300.7 million. Each new share will replace 10 existing shares and carry a par value of 0.80 euros ($0.90), up from 0.08 euros, Capital B said in a Monday statement.
The Euronext Growth Paris-listed company said the conversion will occur automatically on Sept. 8 without changing the aggregate value of investors’ holdings.
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