Ubisoft To Propose Stock Split

Ubisoft is planning to offer its shareholders a two-for-one stock split,and will put the proposal up for a vote at its annual general meeting on September 22nd, according to Reuters. As of press time, Ubisoft is trading at €63.67 (approx. $94) per share. The stock split would effectively double the number of shares that each investor holds, and in general is a sign of a positive outlook -- the halved cost per share is usually aimed at getting new investors to buy in, or at pricing the stock competitively to its industry peers. The company's seen sales growth in its recent quarter driven by strong sales of casual DS titles, even as it delayed its upcoming Splinter Cell title to 2009. At the close of its first fiscal quarter in July, Ubi reported sales up 26 percent to €169 million ($263.7 million), beating its own expectations, and raised its guidance to €160 million ($249.6 million), up 26 percent over the year prior. The company recently publishedSoulcalibur IV for Xbox 360, PS3 and Wii in Europe, and its Fall and holiday season slate includes Brothers in Arms: Hell's Highway for Xbox 360, PC, and PS3, as well as new casual titles for the DS and Wii.