FRANCE: Danone to double number of shares today
Groupe Danone is to carry out a two-for-one stock split today. The French company announced the move yesterday, in an attempt to improve the liquidity in its shares.
In a statement, Danone said that the nominal value of its shares will be reduced from €1 to €0.50, consequently halving its stock price but doubling the number of shares in issue.
The total number of Danone's shares will rise from 134m to 268m "at no cost and with no formalities, and Danone shareholders will not lose any of their rights".
The company said it wanted "to enable as many investors as possible to become shareholders, and to give shareholders flexibility in managing their portfolios."
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