Norway's Solstad Offshore has announced a new reverse stock split plan as it awaits a crucial vote on its $2bn debt restructuring.
The offshore vessel owner's shareholders will have their say on Tuesday on a scheme to convert $1.1bn of borrowings into equity to ensure sufficient liquidity after years of weak markets.
They will also vote at an extraordinary general meeting (EGM) on a new plan from the company that would see 1,000 shares merged into one.
