Oil and natural gas stock Chesapeake Energy (CHK) has announced that shareholders have now approved a reverse stock split, at a ratio of 1-for-200.With shares now trading at just $0.16, 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, 200 shares of CHK’s common stock will automatically combine into one share, and the number of shares of common stock outstanding will be accordingly reduced from roughly 1.96 billion to 9.78 million.The split will become effective at …read more
Source:: Yahoo Finance
