DP World shares deal increases company value

DUBAI's DP World, one of the world's biggest port operators, has gained shareholder approval of consolidation, which will give one new share for every existing 20 they previously held, boosting share price 20 times.


The move is to "better reflect the value of the company but there will be no change in value for shareholders as a result of the consolidation and treatment of fractions, said a company statement.
(Source:http://www.schednet.com)