GLOBAL Ferronickel Holdings, Inc. (FNI), the second largest nickel producer in the country and the largest single lateritic mine exporter in the world, announced on Monday that its shareholders have approved a reverse stock split of its common stock at a ratio of one-for-three to reduce the number of total issued and outstanding shares.
In a statement, FNI president Atty. Dante Bravo said that under the reverse stock split, the company’s par value shall be changed from P0.35 per share to P1.05 per share.
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