ABB plans share split
The Swiss technology group, ABB, is to ask shareholders to approve a four-for-one share split in a bid to improve the liquidity of its stock.
The changes will be proposed to investors at the group’s annual general meeting on March 20.
If approved, the move would reduce the par value of ABB’s shares to SFr2.5 from SFr10.
ABB’s shares suffered sharp losses last week after the group revealed lower-than-expected results for 2000.
This latest move by ABB is in line with a similar move made last week by financial services giant UBS. It too announced a share split as it hoped a lighter value would increase trading volume in its stock.
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