Thomas Cook to split shares

New Delhi, Feb 27 (UNI) Travel solutions provider Thomas Cook India Ltd today said it will split its shares of Rs 10 face value each to Re 1 each to increase the liquidity of its stock in the market.

With this, the number of shares of the company will be 34.58 crore. However, the paid up capital of the company stands unchanged at Rs 16.07 crore.

''The company's decision to sub divide the share would further increase the floating stock available in the market. We are confident that with this split, the liquidity of the stock would increase in the market and this would bring in benefit to the shareholders,'' company Managing Director Madhavan Menon said.

The company has received its board's approval for the scheme, while the shareholders consent will be secured by a postal ballot.

UNI