London-based Global Ship Lease (GSL) is to carry out a reverse stock split to boost its price.
The NYSE-listed owner will combine eight shares into one, cutting the outstanding number from 79.5m to 9.9m.
It received a notice in November that it was no longer in compliance with the NYSE's continued listing standards due to its price being below $1 for 30 consecutive trading days.
The stock was trading down 4.38% at $0.76 on Thursday morning in New York.
