Globus Maritime, an owner of five dry bulk vessels, has made a drastic move in an apparent effort to ensure that it stays listed on the Nasdaq Capital Market.
The New York-listed owner of one panamax and four supramaxes has gone in for a 1-for-100 reverse stock split, reducing its number of outstanding shares to 1.76m from 176m.
Its preferred shares will fall to 300 units from 30,000, the company said.
