Can a public company issue lesser number of shares in exchange of already issued shares at an earlier date? If so what is the purpose of it?

A reverse split might be implemented by a company that would like to increase the price of its shares. If a $1 stock had a reverse split of1 for10 (1:10), holders would have to trade in10 of their old shares for one new one, but the stock would increase from $1 to $10 per share (retaining the same market capitalization). A company may decide to use a reverse split to shed its status as a "penny stock". Other times companies may use a reverse split to drive out small investors.

The company isissuing lesser  of theissued shares at an ealier date

So that it can judge the susceptibility shareholders to buy these shares, or there are a few of the shareholders of the purchase If the sale has been issued shares fully whereupon the whole process of issuance. But if there is no sale of the issued shares in the IPO, it is the beginning of the process to cancel the Issue

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  The purpose of the company's desire to increase the company's share price was decided to use a reverse split so that shareholders adults are attracted to buy shares of small shareholders and that the expulsion of small shareholders and control of major shareholders and investment Maysmon whales on the shares of the market

Yes It Can a public company issue lesser number of shares in exchange of already issued shares at an earlier date

This is a reverse stock split is also called a stock merge. The "reverse stock split" appellation is a reference to the more common stock split in which shares are effectively divided to form a larger number of proportionally less valuable shares for example issue one share for10 shares.

In the vast majority of cases, a reverse split is undertaken to fulfill exchange listing requirements. An exchange generally specifies a minimum bid price for a stock to be listed. If the stock falls below this bid price, it risks being delisted. Exchanges temporarily suspend this minimum price requirement during uncertain times.

A secondary benefit of a reverse split is that by reducing the shares outstanding and share float, the stock becomes harder to borrow, making it difficult for short sellers to short the stock. The limited liquidity may also widen the bid-ask spread, which in turn deters trading and short selling.

The ratios associated with reverse splits are typically higher than those for forward splits.

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