MORRISVILLE,CGI Holding Corporation, parent firm of WebSourced, is withdrawing the reverse stock offering plan approved by its board of directors last year.
CGI, which is based in Deerfield, IL, had planned a 1-for-5 offering.
CGI stock trades over the counter (OTCBB: CGIH). It closed at $3.65 on Wednesday, up 5 cents. The stock was trading a year ago at 15 cents but has rallied strongly since December, climbing past $1 and hitting a 52-week high of $4.55 in May.
The company disclosed no reason for the decision.