Solmate, a listed company, proposed a reverse stock split to advance the construction of the Solana Center in the UAE.

CoinFeed reported on March 11 that, according to The Block, Nasdaq-listed Solmate (currently legal entity Brera Holdings PLC) has proposed a 10-for-1 reverse stock split and a change of its legal name to Solmate Infrastructure PLC to advance its plans to build the Solana hub in the UAE. The company also plans to divest two underperforming football teams from its existing sports portfolio, retaining only the Italian club Juve Stabia, with the freed-up funds used to expand its Solana infrastructure in the UAE.