Protech Home Medical Corp. said it will consolidate its common shares on a 1-for-5 basis and change its ticker symbol to PTQ from PHM.
The Cincinnati-based company's issued and outstanding common shares will reduce to about 83,529,704 from 417,648,518 after the consolidation.
The company's consolidated common shares will begin trading on the TSX Venture Exchange from Dec. 31, 2018, under the ticker PTQ.
The consolidation is meant to improve the company's stock price and encourage more investment, particularly from those investors whose internal policies discourage them from purchasing stocks trading below a certain minimum price.
Protech Home Medical provides and rents in-home monitoring equipment and services for patients in the U.S.