ArcelorMittal to go ahead with its reverse stock split

Wim de Klerk

ArcelorMittal, the word’s largest steelmaker said it will go ahead with its planned reverse stock split.

The reverse stock split was announced after its shareholder’s meeting yesterday.

ArcelorMittal said it will proceed to consolidate each three existing shares in the Company without nominal value into one share without nominal value.

The reverse stock split is to become effective on 22 May 2017.

What is a reverse stock split?
Also called a stock merge, a reverse stock split or reverse split is a process by which shares of corporate stock are effectively merged to form a smaller number of proportionally more valuable shares.

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