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Capital B approves 10-for-1 reverse stock split to broaden institutional base

The reverse split will cut Capital B’s share count to about 30.1 million from 300.7 million, with the change occurring automatically on Sept. 8.

Reported · Written up by our desk · Market Structure

Capital B has approved a 10-for-1 reverse stock split intended to broaden its institutional investor base, the French company said in a statement reported by Cointelegraph.

The Euronext Growth Paris-listed firm said the reverse split will reduce its number of shares to about 30.1 million from 300.7 million, with each new share replacing 10 existing shares and carrying a par value of 0.80 euros, up from 0.08 euros.

Cointelegraph reported that the consolidation will take place automatically on Sept. 8, and it said investors’ aggregate holdings value would not change.

The company also noted that last month shareholders approved up to 105 billion euros in financing capacity to support Capital B’s Bitcoin acquisition strategy, and it said it holds 3,139 Bitcoin as of the time of writing.

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