Finnair has executed a reverse stock split, announced on March 20, 2024.
A reverse stock split essentially consolidates smaller shares into higher value shares. For every 100 shares, Finnair has consolidated into 1. Effectively bringing its over 20 billion shares with a share price of €0.03 down to 200 million shares with a share price of €3.
The aggregate market value of the shares issued without consideration is €140,976.17 (circa $153,797.95), based on the closing price of 20 March 2024.
Finnair said the aim of the reverse split is to ""facilitate trading conditions of the shares by increasing the value of a single share as well as to improve the price formation of the shares.""
Finnair executes reverse stock split to ""facilitate trading conditions""
