Commerce One, the business-to-business software maker, said
today that its board of directors has approved a 2-for-1 stock
The Walnut Creek, Calif.-based company, which makes software that helps companies set up business-to-business (B2B) marketplaces, went public last summer and had a 3-for-1 split in December.
Other, similar companies, including rivals Ariba and i2
Technologies, have seen their market valuations soar as both large and small
companies have begun flocking to the Web to set up industrial marketplaces.
Firms selling specialized software and offering online exchanges promise to
drastically decrease the cost of doing business.
Commerce One has been flying high even after reporting in January that its
fourth-quarter loss widened.
The company's stock split will be effected as a stock dividend and
distributed on April 19.
Shareholders of record at the close of trading on March 24 will be
issued an additional share for each share of common stock held that day.
The split will increase the number of common stock outstanding to about
154.8 million shares.
Ariba had a 2-for-1 stock split in December after it went public last