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In recent times, Houston Natural Resources Corp (OTCMKTS: HNRC) has made a lot of interesting moves which has brought the company onto the radars of many investors. The company was in the news yesterday after it announced that it had hired an attorney for the purpose of filing a registration statement to the United States Securities and Exchange Commission on behalf of its fully-owned subsidiary Worldwide Diversified Holdings Inc.
HNRC stock closed up by 6% at $0.0848 on a massive volume of 1.309 million shares, 3X its average volume of 416K shares.
The registration state is in relation to a public listing of the subsidiary. Houston Natural Resources Corp also announced that the listing price would be $3.50 a share. Worldwide Diversified Holdings is a spin-off of the company’s non-energy assets and its shares would now be made available for open-market trading.
Once the listing does take place, all Houston Natural Resources Corp shareholders of record as on December 16, 2022, are going to be issued with a Worldwide Diversified share for two shares that they own in the former. It should be noted that back in December the company had issued dividends to the tune of $1.75 per share in Houston Natural Resources Corp to its shareholders.
However, that was not the only important announcement that was made by the company yesterday. Houston Natural Resources Corp also announced that it had hired the services of an accounting advisory firm for a two-year audit of its books with the view of uplisting its shares eventually. It should also be noted that an agreement with an underwriter is already in place.