Home / Financial crisis / Bombardier Inc plans reverse stock split as shares dive to lowest level in 25 years: sources
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Bombardier Inc plans reverse stock split as shares dive to lowest level in 25 years: sources

A Bombardier plant is shown in Montreal. Bombardier stock has declined more than 33 per cent year to date, trading at 89 Canadian cents in Toronto on Wednesday, as it has struggled to find buyers for its new 100-150 seat CSeries passenger jet.

MONTREAL — Plane and train maker Bombardier Inc, whose stock has hit its lowest level in 25 years, will soon announce plans for a reverse stock split, two sources familiar with the matter said, in order to remain a part of Canada’s benchmark stock index.

The sources, who are not authorized to publicly discuss the plans, said Bombardier’s board of directors had already approved the plan before the stock dipped below $1 last week.

A Bombardier spokeswoman said the company does not comment on its share price or its stock in general.

Bombardier stock has declined more than 33 per cent year to date, trading at 89 Canadian cents in Toronto on Wednesday, as it has struggled to find buyers for its new 100-150 seat CSeries passenger jet.

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