Bombardier Inc plans reverse stock split as shares dive to lowest level in 25 years: sources – FINANCIAL NEWS-ecozik.com
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Bombardier Inc plans reverse stock split as shares dive to lowest level in 25 years: sources

A Bombardier plant is shown in Montreal. Bombardier stock has declined more than 33 per cent year to date, trading at 89 Canadian cents in Toronto on Wednesday, as it has struggled to find buyers for its new 100-150 seat CSeries passenger jet.

MONTREAL — Plane and train maker Bombardier Inc, whose stock has hit its minimum in Twenty five years, will soon announce plans for a reverse stock split, two sources acquainted with the matter said, to be able to remain a part of Canada’s benchmark stock index.

The sources, who aren’t authorized to publicly discuss the plans, said Bombardier’s board of directors had already approved the program before the stock dipped below $1 a week ago.

A Bombardier spokeswoman said the organization does not comment on its stock price or its stock generally.

Bombardier stock has declined a lot more than 33 percent year up to now, trading at 89 Canadian cents in Toronto on Wednesday, as it has struggled to find buyers for its new 100-150 seat CSeries passenger jet.

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