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FAO/Reverse Stk Split: Trading Symbol To Change >FAOOQ
KING OF PRUSSIA, Pa. (Dow Jones)--FAO Inc. plans to execute a 1-for- 15 reverse split of its common stock after the close Tuesday.

In a press release Tuesday, the toy retailer said the reverse stock split is one of the transactions contemplated by the company's bankruptcy plan of reorganization.

When the market opens Wednesday, the company's Nasdaq trading symbol will be changed temporarily to FAOQD to reflect the reverse stock split, and will retain the "D" designation for 20 business days.

Assuming that all conditions to effectiveness of the plan of reorganization are met, the company expects to emerge from bankruptcy on Wednesday. After that, its Nasdaq trading symbol will drop the "Q" designation.

The company filed for Chapter 11 bankruptcy in January, listing assets of $257 million and liabilities of $238 million.

Shares of FAO closed Tuesday at 49 cents, down 16 cents, or 24.6%, on volume of 3,368,723 shares. Average daily volume is 546,281 shares.