Unibanco Stock Split 2008
Uniao De Bancos Brasileiros S.A. of Brazil proposes to split its ADR stock UBB in the ratio of 5:1 and also issue a bonus stock of 10%.
The above decision was made in a meeting on May 29th.The proposal has to be approved by the board and the Brazilian Securities Exchange Commission before it can become effective. The Record Date has not been set yet.
The bank will also issue 10% bonus stock to all existing shareholders as part of the increase in capital stock of the bank.
Split Details
Company: Uniao De Bancos Brasileiros S.A.
Ticker: UBB
Current Price/Share:$146.42 (As of June 4,2008)
Split Ratio: 5:1
Bonus: 10% stock bonus
Record Date: Not announced yet
For more details on the May 29th announcement click here: UBB Stock Split News
After the split, UBB’s liquidity will increase since there are already 280M shares outstanding.
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