Rumors is IP E-Game Ventures, Inc. (EG) plans to change it par value from 1.0 to 0.01 accompanied with a stock split of 1 share for every 100 shares. A stock split is a decision by the company's board of directors to increase the number of shares that are outstanding by issuing more shares to current shareholders. Stock split is usually done by companies that have seen their share price increase to levels that are either too high or are beyond the price levels of similar companies in their sector. The primary motive is to make shares seem more affordable to small investors even though the underlying value of the company has not changed.
EG shares was last traded at 105 per share.
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