On Monday, athletic apparel-maker Under Armour (UA) said that it will split its stock next month. UA stock rose more than 2% in morning trading on the news.

UA stock gained after the company said it would conduct the 2-for-1 stock split on April 14. Stockholders of record on Mar. 28 are eligible to receive shares under the split. This will mark the second stock split since Under Armour held its IPO in 2005, the Wall Street Journal notes.

The last time UA conducted a stock split was July 2012. Under Armour has a current market capitalization of roughly $12.5 billion with 105.8 million Class A shares on the market.

UA said the stock split was aimed at increasing the trading liquidity of Under Armour stock and widening its shareholder base.

Last month, UA signed a new, multi-year deal to provide uniforms to the U.S. Speedskating Team, despite earlier claims that its uniforms had slowed down some athletes during the recent Winter Olympics Games in Sochi, Russia.

This year, Under Armour has launched an advertising campaign targeting the women’s sports market.