GLOBAL COMMUNICATIONS GIANT ERICSSON TO SPLIT STOCK 4-FOR-1 EFFECTIVE MAY 8
NEW YORK
LM Ericsson announces it will split its stock 4-for-1 effective May 8. Holders of Ericsson American Depository Receipts (ADRs) will automatically receive a stock distribution of new ADRs, representing the number of shares after the 4-for-1 stock split. In the 4-for-1 split, the number of shares will quadruple and the share price will be one-fourth the previous price. The total value of the shares held will thus remain the same. As a consequence of the split, the conversion price of Ericsson’s Convertible Debentures (ADD) will also be adjusted accordingly. Ericsson is a provider of communication solutions that combine telecom and datacom technologies with freedom of mobility for the user. The company has more than 100,000 employees in 140 countries.
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