Halcon Resources Sets 1:5 Reverse Stock Split



Reuters

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)



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