In December 2023, Sequoia obtained shareholder approval for a 20-for-1 reverse stock split, also known as a consolidation, to meet the minimum price requirements set by B3, the Brazilian stock exchange.
This measure aims to increase the stock price per share, improving market perception and attracting institutional investors. The reverse split reduces the number of outstanding shares while maintaining the company’s overall market capitalization.
Management stated that this action is part of a broader strategy to enhance liquidity, trading volumes, and market visibility, positioning Sequoia for future growth.
Investors should note that such corporate actions typically align with market best practices to ensure compliance and competitiveness.
Source: B3 Official Announcements, December 5, 2023