On 17 December Fortescue Metals Group Ltd (ASX:FMG) is offering retail investors the chance to join the company s advance towards it s first iron ore shipment which remains on track for mid-may 2008. Fortescue s initial 55 million tonnes per annum (mtpa) will be sold to China and has advanced plans to rapidly expand to 200 mtpa.
A 10-for-1 share split is proposed, giving every shareholder 10 shares for one share held. This will increase the number of shares on issue to 2,799,270,430. The move is aimed at increasing the availability and affordability of Fortescue shares which will particularly benefit Australian retail investors. It could also lead to a re-rating of Fortescue shares.
The share split is expected to be approved by shareholders at an extraordinary general meeting to be held on 17 December and was announced ahead of Fortescue s recent new iron ore discovery in the Pilbara region.
next week....
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Last
$19.55 |
Change
0.050(0.26%) |
Mkt cap ! $60.19B | |||
| Open | High | Low | Value | Volume |
| $19.98 | $20.30 | $19.51 | $184.3M | 9.305M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 5 | 2568 | $19.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.56 | 44282 | 3 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |