Important Information

You are visiting the international Vantage Markets website, distinct from the website operated by Vantage Global Prime LLP
( www.vantagemarkets.co.uk ) which is regulated by the Financial Conduct Authority ("FCA").

This website is managed by Vantage Markets' international entities, and it's important to emphasise that they are not subject to regulation by the FCA in the UK. Therefore, you must understand that you will not have the FCA’s protection when investing through this website – for example:

  • You will not be guaranteed Negative Balance Protection
  • You will not be protected by FCA’s leverage restrictions
  • You will not have the right to settle disputes via the Financial Ombudsman Service (FOS)
  • You will not be protected by Financial Services Compensation Scheme (FSCS)
  • Any monies deposited will not be afforded the protection required under the FCA Client Assets Sourcebook. The level of protection for your funds will be determined by the regulations of the relevant local regulator.

If you would like to proceed and visit this website, you acknowledge and confirm the following:

  • 1.The website is owned by Vantage Markets' international entities and not by Vantage Global Prime LLP, which is regulated by the FCA.
  • 2.Vantage Global Limited, or any of the Vantage Markets international entities, are neither based in the UK nor licensed by the FCA.
  • 3.You are accessing the website at your own initiative and have not been solicited by Vantage Global Limited in any way.
  • 4.Investing through this website does not grant you the protections provided by the FCA.
  • 5.Should you choose to invest through this website or with any of the international Vantage Markets entities, you will be subject to the rules and regulations of the relevant international regulatory authorities, not the FCA.

Vantage wants to make it clear that we are duly licensed and authorised to offer the services and financial derivative products listed on our website. Individuals accessing this website and registering a trading account do so entirely of their own volition and without prior solicitation.

By confirming your decision to proceed with entering the website, you hereby affirm that this decision was solely initiated by you, and no solicitation has been made by any Vantage entity.

I confirm my intention to proceed and enter this website Please direct me to the website operated by Vantage Global Prime LLP, regulated by the FCA in the United Kingdom

By providing your email and proceeding to create an account on this website, you acknowledge that you will be opening an account with Vantage Global Limited, regulated by the Vanuatu Financial Services Commission (VFSC), and not the UK Financial Conduct Authority (FCA).

    Please tick all to proceed

  • Please tick the checkbox to proceed
  • Please tick the checkbox to proceed
Proceed Please direct me to website operated by Vantage Global Prime LLP, regulated by the FCA in the United Kingdom.

×

Are you long or short on indices?

Trade Indices Now >
Long Or Short On Indices?
View More
SEARCH
  • All
    Trading
    Platforms
    Academy
    Analysis
    Promotions
    About
  • Search
Keywords
  • Forex Trading
  • Vantage Rewards
  • Trading Fees
  • facebook
  • instagram
  • twitter
  • linkedin
  • youtube
  • tiktok
  • spotify
Notifications 10 Jun 2022

Upcoming MICHELIN Stock Split on 16 June 2022 

NOTIFICATIONS

Dear Trader,

Please be advised of the upcoming MICHELIN (ML) stock split that is going to take place as per the following schedule:

  • Ex-Date: 16 June 2022

Common shares will trade at the new split-adjusted price from 16 June 2022 onwards.

What is a stock split?

A stock split is a corporate action taken by companies that have seen their share price increase to levels that are either too high or are beyond the price levels of similar companies in their sector, to divide their existing shares into two or more shares. Read more about stock split here.

Why do stocks split?

The primary motive is to make the shares more affordable to small investors even though the underlying value of the company has not changed. MICHELIN would like its stock to be more accessible to a broader base of investors.

What is the split ratio?

MICHELIN also announced it will split its stock in a 4 for 1 offering. 

What will this split mean to investors?

Each share of MICHELIN stock that an investor owns before Ex-Date (16 June 2022) will be eligible for stock split. Investors will receive three additional shares and the stock price will be quartered. 

Here is an example:

 Pre-SplitPost-SplitAs of 20 July 2021
Shares held100 shares400 sharesShares are multiplied by 4
Share Price120 per share$30 per shareShare price is divided by 4
Value$12,000$12,000Total value remains equal

If an investor owns 100 shares and the market price is $120, $160 as take profit. After 4 for 1 stock split, the investor will own 100*4 = 400 shares and the estimated post-split price would be $120/4 = $30, and the take profit price will adjust to $160/4=$40.  

All pending orders: Buy Limit, Sell Limit, Buy Stop, Sell Stop, Buy Stop Limit, Sell Stop Limit, will be deleted.

Does the 4 for 1 stock split mean the value of my MICHELIN shares will increase three times? 

Unfortunately, not. As stated in the above example, the increase in the number of stocks means every share is now worth less than its previous value, precisely, it’ll be 1/4 the previous value.

How do stock splits affect short sellers?

Stock splits do not affect short sellers in a material way. There are some changes that occur as a result of a split that affects the short position, but they don’t affect the value of the short position(s). 

If you have any questions about any of these changes, please contact our Client Service team or your Account Manager.

IN CASE YOU MISSED IT