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Reuters
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Mar 3, 2010
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H&M says board to propose two for one stock split

By
Reuters
Published
Mar 3, 2010

STOCKHOLM, March 3 (Reuters) - Swedish fashion retailer Hennes & Mauritz AB (HMb.ST) said on Wednesday 3 March its board would propose a two-for-one share split at the company's annual shareholders' meeting on April 29.

H&M
H&M concept store - New York

H&M did not give a reason for its decision but said that after the split, the number of its A-class shares would increase to 194.4 million and B-shares to 1.461 billion. It said the split would take place between May 20 to June 18.

Shares in H&M have risen around 41 percent since the start of 2009 against a rise of 36 percent in the wider European retail index .SXRP. They closed at 438.9 crowns on Tuesday 2 March.

In late January, the company posted better-than-expected quarterly earnings, boosted by a recovery in the global economy. Sales at the start of the year have also been strong. (Editing by David Holmes)

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