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In a press release on Thursday morning, China Housing & Land Development, Inc. (NASDAQ: CHLN) announced that it would postpone a proposed 50,000-to-1 reverse stock split to a later date in the first quarter 2016.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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According to an SEC filing from November 23, the company is looking to reduce number of holders of record to less than 500, which would allow the company to "go private" by removing common stock from quotation by NASDAQ. This follows a wave of "go private" transactions, as well as a number of reverse stock splits being implemented by foreign domiciled U.S. listed stocks.
Shares of China Housing & Land Development were trading up ~3 percent on Thursday at $3.10.