Global X Funds has approved a share split for the Global X GF China Bond ETF (NYSE Arca: CHNB), the first US-listed ETF to provide access to China's onshore bond market.
The total market value of the shares outstanding will not be affected as a result of this 2-for-1 split, except with respect to the redemption of fractional shares.
This split will take place for shareholders of record as of the close of business on 9 March, 2015, and will be payable after the close of trading on 10 March, 2015. Fund shares will begin trading on a split-adjusted basis on 11 March, 2015. Shareholders will see the change in their holdings sometime after that date, depending upon their brokerage firm's procedures.
The share split will lower the share price for the fund and increase the number of shares outstanding. The total value of shares outstanding is not affected by a split.