trending Market Intelligence /marketintelligence/en/news-insights/trending/SuWQG_5ukgPQigOvMgLYBQ2 content esgSubNav
In This List

NZCH plans reverse stock split, SEC deregistration


Banking Essentials Newsletter: 7th February Edition

Case Study

A Bank Outsources Data Gathering to Meet Basel III Regulations


Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


Banks’ Response to Rising Rates & Liquidity Concerns

NZCH plans reverse stock split, SEC deregistration

NZCH Corp. is planning a reverse split of its common shares.

Under the plan, each 500,000 shares will combine into 1 share. NZCH will simultaneously and accordingly lower its number of authorized shares. The company aims to have fewer than 300 shareholders as a result. No fractional shares will be issued; NZCH will offer a cash payment of 2 cents for each pre-split share to those whose holdings cannot be converted in the reverse split.

With fewer than 300 shareholders following the reverse split, NZCH will be able to terminate its common stock's registration with the SEC and suspend its reporting obligations.

The record date for the transaction is Jan. 2, 2018.