Bellus Health Inc. will consolidate its common shares on a 1-for-3.6 basis, effective Aug. 19.
The move will reduce the company's outstanding common shares from about 159.1 million to about 44.2 million.
The Quebec-based biopharmaceutical company expects trading in its post-consolidated shares to begin by Aug. 19 on the Toronto Stock Exchange under existing ticker BLU.
No fractional common shares will be issued in connection with the consolidation that was approved by the company's shareholders May 8.
Bellus Health's transfer agent, Computershare Investor Services, would act as the exchange agent for the consolidation.