LJUBLJANA (Slovenia), April 22 (SeeNews) – Slovenian pharmaceutical products wholesaler Salus [LJE:SALR] said it plans to carry out a 1:78 share split, raising the number of its no-par value shares to 8,219,250 from 105,375.
The purpose of splitting Salus’ shares is to make it easier for smaller investors to buy and trade the shares, while also improving market liquidity, the company said in a bourse filing last week.
Prior to the share split, Salus will increase its share capital to 8.3 million euro ($9.5 million) from 439,722.87 euro using existing reserves, without issuing new shares, to meet the legal requirement that each no-par value share must be worth at least 1 euro.
Salus’ shareholders approved the plan at a meeting last week.
Ljubljana-based Salus is one of Slovenia’s leading wholesalers of pharmaceutical and medical products. The group comprises companies in Slovenia, Croatia, Serbia, Lithuania, North Macedonia, Montenegro, Bosnia, and Albania.
Salus shares last traded on April 16, ending 0.88% higher at 2,300 euro.
($ = 0.871 euro)