Oil and natural gas stock Chesapeake Energy (CHK) has announced that the company’s expected reverse stock split is set to occur on April 13, subject to shareholder approval.With shares now trading at just $0.17, the reverse split is intended to increase the per share trading price to satisfy the $1 minimum bid price requirement for continued listing on the NYSE.As a result of the reverse stock split, every 50 to 200 (as determined by the company’s board) shares of CHK’s common stock will automatically combine into one share, and the number of shares of common stock outstanding will be accordingly …read more
Source:: Yahoo Finance
