Upon completion, the split will leave approximately 81 million shares of common stock outstanding, according to company officials.
Netscape stock has been in high demand since it first went public in August, closing at $58.25 in its first day of trading. Despite some analysts early skepticism, the stock price has continued to go up. After an initial surge from $3.875 to $100.625 after the split was announced, the price closed Tuesday at $96.50.
The split will be voted on at a stockholders' meeting set for January 23.