Shopify IncSHOP627,57 $
12 April, the company is a developer of Shopify online store builders (NYSE: SHOP) announced plans to splitting up shares in the ratio 10 to 1. It also asked shareholders to approve a "founder's share" for its CEO, Toby Lutke., to strengthen his right to vote.
The company stated, that conducts a split in order to make shares more accessible to investors. In recent weeks, a number of large technology companies, including Amazon, Alphabet и Tesla, announced similar steps.
Crushing must approve at least 2/3 shareholder votes. Investors will then receive nine additional Class A or B shares for each Shopify share after the close of trading. 28 June. Class B shares entitle shareholders to take part in the management of the company, while class A shares give only the right to receive dividends.
Shopify will also release a new class of non-transferable "founder's shares" for Lutke., which, combined with his Class B shares, would give the CEO 40% of votes.
Shopify has grown strongly over the past two years by helping small businesses move online quickly amid the coronavirus pandemic.. The company's shares soared by about 185% in 2020 and more on 21% in 2021. But to date, the stock has fallen by more than 50%, as the impact of the pandemic wanes.
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