(Reuters) – Amazon.com Inc said on Wednesday its board approved a 20-for-1 split of the e-commerce giant’s common stock, as well as authorized the repurchase of up to $10 billion of its stock.
Shares of Amazon rose 8% in extended trading.
Trading is expected to begin on a split-adjusted basis on June 6, the company said in a filing.
(Reporting by Chavi Mehta in Bengaluru; Editing by Shailesh Kuber)
