Billionaire Dhammika Perera-controlled Hayleys Group and all its listed 13 subsidiaries announced stock splits today, subject to shareholders’ approval.
Following the announcement, the trading was halted until 11.30 am today.
” The Company may subdivide all of the shares in the Company or all of the shares in a particular class of shares in the Company into a greater number of shares, in proportion to those shares, leaving unaffected the relative voting and distribution rights of the holders of those shares, by following a procedure to effect such subdivision as the Board may consider appropriate,” Hayleys Group announced in a market disclosure today.
The move is expected to improve the liquidity and enhance the investment opptruntiies for small-scale retail investors.