MMTec falls after announcement of reverse stock split

MMTec

12/12/2024 14:28

** Shares of trading service provider MMTec Inc  MTC.O  fall
16.1% to 22 cents premarket 
    ** MTC says it will implement a 1-for-8 reverse stock split,
which will be effective on Dec. 18
    ** MTC says its authorized shares will reduce from 5 bln to
625 mln and par value per share will increase from 1 cent to 8
cents
    ** As of last close, stock had fallen 73.8% YTD

 (Reporting by Kamal Choudhury in Bengaluru)
 ((Kamal.Choudhury@thomsonreuters.com;))