Shares for YTB International Inc. (Pink Sheets: YTBL) gradually climbed 28.39 percent over the course of the day to $8.05 a share by mid-morning, soaring on the news of its new ticker symbol and the subsequent update of its stock split.
According to the announcement, YTB International’s Class A common shares will begin trading under the new ticker symbol YTBLA on August 1, 2007, in accordance with the company’s recently announced stock reclassification. As a result, each share of Class B common stock will automatically convert into a share of Class A common stock; shareholders will receive two shares of Class B stock and one share of Class A stock for each share of existing common stock held at market close on July 31, 2007.
This is the latest piece of information about the company’s stock reclassification, which the company announced on July 17, 2007. An internet-based travel booking service provider, YTB International, Inc. operates through three subsidiaries: YourTravelBiz.com Inc., YTB Travel Network Inc., and REZconnect Technologies Inc.
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