Laep Investments Ltd. (MILK11), a fund that controls a dairy products manufacturer in Brazil, fell to the lowest since October 2007 in Sao Paulo trading.
Laep slumped 21 percent to 11 centavos at the close in Sao Paulo. The benchmark Bovespa index rose 0.7 percent.
The company’s board of directors approved a 1-for-10 reverse-split stock split, according to a regulatory filing. The new shares are scheduled to start trading on June 1.
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