Chamwe Kaira
Africa Bitcoin Corporation Limited (ABC) has proposed a share split and changes to its memorandum of incorporation, a move that will affect its listing on the Namibian Stock Exchange.
The company, which is listed on the JSE Limited and the NSX under the code BAN, plans a three-for-one subdivision of its ordinary shares.
Under the proposal, shareholders will receive three shares for every one they currently hold. The change will not affect ownership or the company’s overall value.
The board said the aim is to improve liquidity and make the shares more accessible to investors.
A lower share price after the split is expected to attract more trading on exchanges, including the NSX.
The company said its shares have seen interest since listing in October 2024, but trading volumes remain low. The subdivision is expected to improve trading activity and price movement.
The company also plans to amend its memorandum of incorporation. The changes are meant to align with South Africa’s Companies Act and updated JSE listing requirements. They will also allow the company to pursue listings on other international exchanges.
To carry out the share split, the company will increase its authorised share capital and issue up to 22.8 million additional shares to meet the three-for-one ratio.
The new shares will have the same rights as existing shares and will be listed after regulatory approval. Trading will continue on current exchanges, including the NSX, under the new structure.
The proposals still need approval from shareholders and must be filed with South Africa’s Companies and Intellectual Property Commission.
