Business Objects plans 2-for-1 stock split
The developer of business intelligence applications and tools says its board has set a January shareholder meeting to propose and authorize the stock split.
San Jose, Calif.-based Business Objects, which develops so-called business intelligence applications and tools, said the company's board has set a shareholder meeting for Jan. 7 to propose and authorize the split.
If the proposal is adopted, the company said in a statement that it intends to make the split effective on or about Jan. 20 for all ordinary shares and U.S. depositary shares issued as of that date. The company trades on both the Nasdaq and the ParisBource markets.
If a split is OK'd, each old U.S. share of Business Objects will be exchanged for two new ones. The prices of the company's shares in both markets will be adjusted on the effective date.
BI, or business intelligence, is a term marketers use to explain ways that a company can trudge through massive amounts of data to find information they can actually use. For example, Business Objects said it develops BI tools that can help businesses analyze a huge amount of data and transactions that are collected via the Web.