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International Consolidated Companies (OTC: INCC) In Focus After Reverse Stock Split

Scott Birndorf

Considering the fact that the company was in focus on Monday, it could be a good time for investors to consider taking a closer look into International Consolidated Companies (OTC: INCC) this morning. The company announced this week that it had gone for a reverse stock split.

Reverse Stock Split

The company announced that it had been successful in affecting a 1 to 2000 reverse stock split. International Consolidated Companies noted in the news release that it had decided to opt for the reverse stock split as part of its long-term restructuring goals. Additionally, the ticker symbol of the stock would also change to INCCD following the reverse stock split. However, it would revert to INCC after 20 business days.

Strategic Timing

International Consolidated Companies also stated that the timing of the move was also a demonstration of the company’s commitment to tackling the challenges of the market. It would also take the company to a position from which it could work on future growth and maintain transparency for its shareholders, the company asserted.

Additionally, it was stated that the decision for the reverse stock split had also been made after considerable deliberation. The primary aim of the move had been the future growth of international consolidated companies as a business.