MediWound Plans 1-for-7 Reverse Stock Split

(RTTNews) - Biopharmaceutical company MediWound Ltd. (MDWD) Monday announced plans to effect a 1-for-7 reverse share split of its ordinary shares.

Trading of the company's ordinary shares will continue on the Nasdaq Global Market under the symbol "MDWD," but the shares will trade under the new CUSIP number, M68830112.

"We are effecting the reverse share split today as part of our strategic vision and long-term plan to increase shareholder value for MediWound. We believe a higher share price will help position MediWound more advantageously and attract new fundamental institutional investors, ahead of and post our numerous upcoming important milestones," said Ofer Gonen, Chief Executive Officer of MediWound. "We have a promising future ahead of us, and this is just one of many steps we have taken to enhance shareholder value."