Eagle Bulk Shipping has set the stage for a reverse split of its shares after the end of Friday trading.
The New York-listed bulker owner told the US Securities & Exchange Commission that chairman Paul Leand has set the exchange at 20 old shares for each new share.
The reverse split has been planned for some time as a way for the bulker owner to lift its share price above the $1 minimum required by the Nasdaq Global Select Market.
It
