Getting your player ready...
DENVER—Denver-based Guaranty Bancorp is planning a 5-for-1 reverse-stock split in hopes of luring new investors with a stronger share price.
The bank said in a proxy filing with the Securities and Exchange Commission that it is asking shareholders to approve the reverse split at its May 7 annual meeting.
According to the Denver Post ( ), the stock split is mainly to boost interest in the bank’s shares, which have historically traded around $2, a number too weak to attract big-money institutional investors, according to a filing on Monday.
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Information from: The Denver Post,
