Invest Bank’s Board of Directors has proposed a reverse share split through the consolidation of the bank’s existing shares, according to a disclosure following its September 14 board meeting.
The proposal would reduce the number of shares outstanding while proportionally increasing the nominal value per share. A reverse share split does not, by itself, change a shareholder’s proportional ownership in the company.
The proposal remains subject to the necessary shareholder and regulatory approvals before it can be implemented.
Invest Bank is listed on the Abu Dhabi Securities Exchange under the ticker INB.
Source: Invest Bank
Disclaimer: This article is for informational purposes only and should not be construed as investment, financial, or legal advice.
