NEW YORK-L.M. Ericsson unveiled details of its upcoming 4-for-1 stock split, which was approved at the company’s annual general meeting on March 31.
Holders of Ericsson American Depository Receipts automatically will receive a stock distribution of new ADRs, representing the number of shares after the split. The split will quadruple the number of shares that will in turn be valued at a quarter of their previous price, leaving the total value of the shares the same.
Ericsson noted that holders of ADRs at the close of business on May 5 will be eligible for the stock split.
