Netflix Inc is seeking to increase its share authorization by nearly 30 times, the video streaming service said in a filing with regulators.
The company is seeking shareholder approval to increase the number of shares authorized to 5 billion from the current 170 million, a regulatory filing showed.
The move by Los Gatos, California-based Netflix, whose stock has traded at above $300 for a year-and-a-half, indicates a first step toward a possible stock split.
Netflix, whose shares closed at $454.57 on Friday on the Nasdaq, was not immediately available for comment.
Zee News App: Read latest news of India and world, bollywood news, business updates, cricket scores, etc. Download the Zee news app now to keep up with daily breaking news and live news event coverage.
