Shares of CITIC Envirotech rose as much as 3.6% on Tuesday as the company proposes to split each share into two.
In a Monday filing, the China-based environmental engineering company said the move is aimed at making the stock more affordable for investors and enhancing its trading liquidity.
CITIC Envirotech has an issued and paid-up share capital of $542.2 million, comprising 1.13 billion shares.
Upon the completion of the stock split, the number of issued shares will rise to 2.25 billion.
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