Halcon Resources Sets 1:5 Reverse Stock Split
Dec 16 (Reuters) - Oil and gas producer Halcon Resources Corp on Wednesday announced a one-for-five reverse stock split, effective Jan. 5.
The New York Stock Exchange had told Halcon on Aug. 25 that the company's stock had fallen foul of its listing requirement that a stock must not trade at less than $1 for 30 consecutive trading days.
Halcon's shares hit a record low of 31.06 cents on Wednesday. They have fallen 82 percent this year, hurt by a steep drop in oil prices.
The company said on Wednesday that the stock split would not impact any stockholder's ownership on a percentage basis or their voting power.
(Reporting by Shubhankar Chakravorty in Bengaluru; Editing by Savio D'Souza)
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.