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The latest update is out from Iofina plc ( (GB:IOF) ).
Iofina plc announced the High Court of England and Wales has sanctioned its capital reduction plan, converting a retained deficit into a surplus on its balance sheet. This move, approved by shareholders, aims to create distributable reserves and reflects the company’s disciplined approach to capital allocation, strengthening its financial position.
More about Iofina plc
Iofina plc is a vertically integrated company specializing in the production of iodine and manufacturing of specialty chemical products. It is the second largest producer of iodine in North America and operates through its entities Iofina Resources and Iofina Chemical, utilizing innovative technology to enhance its operations.
Average Trading Volume: 304,988
Technical Sentiment Signal: Strong Buy
Current Market Cap: £46.53M
Learn more about IOF stock on TipRanks’ Stock Analysis page.