NEW YORK (GenomeWeb News) – Gene synthesis firm Geneart said Friday that it planned to issue bonus shares in a 1:1 ratio in order to double its number of tradable shares.
Geneart, based in Regensburg, Germany, is listed on the German Stock Exchange.
The company said that the issue of bonus shares is comparable to a 1:1 stock split. It doubles the number of shares for each account, while the price of each share is halved.
Geneart said that the bonus shares raise its subscribed capital from €2.2 million to €4.4 million.
Christian Ehl, CFO of Geneart, said in a statement that the company decided to increase its tradable shares “to support the liquidity and tradability” of its stock.