Kennedy-Wilson to Offer Stock Split

Kennedy-Wilson Inc.’s shares rose 10% after the commercial property broker said it will split its shares 3-for-2 in an effort to attract more investors.

The Santa Monica company’s stock rose $1.75 to close at $12.75 on Nasdaq volume of 56,600 shares, more than seven times the three-month daily average of 8,000 shares.

The split will be made through a stock dividend in which shareholders will get one share for every two held, the company said. The dividend is payable to shareholders of record as of Friday and will be paid on or about Dec. 15.

Kennedy-Wilson provides real estate brokerage and investment services worldwide. It has offices in New York, Tokyo and Indonesia.