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Bitcoin-Treasury Capital B Readies 10-for-1 Reverse Stock Split for September
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Capital B will execute a 10-for-1 reverse stock split in September as the Paris-listed bitcoin treasury company looks to attract more institutional investors while continuing to build its 3,139 BTC reserve.
Key facts
- Capital B shares trade near €0.48 on Euronext Growth Paris and have declined about 40% since the start of the year, per Google Finance data
- In June, shareholders approved authority for as much as €5 billion in capital increases and €100 billion in credit instruments, resolutions that drew more than 95% support from votes cast
- Capital B will execute a 10-for-1 reverse stock split in September as the Paris-listed bitcoin treasury company looks to attract more institutional investors while continuing to build its 3,139 BTC
- In May, it acquired 192 BTC for €13 million after completing three capital raises
Summary
Capital B, the Paris-listed bitcoin treasury company once known as The Blockchain Group, will combine every 10 existing shares into one new share beginning September 8, according to a regulatory filing the company published Monday. The consolidation reduces the number of outstanding shares from 300,650,632 to 30,065,063. Capital B said the move aims to “support the company’s institutional development and to open the company’s shares to a broader universe of investors.” Many institutional funds operate under internal rules that bar them from holding stocks below a set price, and some exchanges impose minimum-price thresholds for continued listing.