'Algoquant Fintech fixes Aug 18 as record date for stock split, bonus issue'

Mumbai, Aug 6 (PTI) Algoquant Fintech on Wednesday said it has fixed August 18 as the record date for the stock split and bonus issue to enhance shareholder value and market liquidity.

According to a public notice, the company has proposed to split each equity share of Rs 2 each will into 2 (two) equity shares of Rs 1 each, fully paid-up.

"This step is aimed at increasing the liquidity of the Company's shares in the stock market and making them more affordable for retail and small investors," the company said.

The company has also approved the issuance of bonus shares in the ratio of 8:1, i.e., 8 (eight) new fully paid-up equity shares of Re 1/- each for every 1.

The issuance of bonus shares is a clear reflection of the Company's strong financial health, consistent performance, and robust reserves position. PTI HG MR