Hong Kong Stock Moves: CENTURY GP INTL (02113) Sinks Over 12% on Proposal for 20-to-1 Share Consolidation and Lot Size Change

Stock News

08/14

CENTURY GP INTL (02113) dropped more than 12% in trading, falling 12.07% to HK$0.153 as of the latest report, with turnover reaching HK$4.2165 million.

On the news front, CENTURY GP INTL announced last night a proposal to consolidate every 20 existing shares into 1 share. Following the share consolidation, the board lot size will be changed from 5,000 existing shares to 1,000 consolidated shares. The proposal is subject to shareholder approval.

The company noted that based on yesterday's closing price of HK$0.174, if the share consolidation and lot size change take effect, the value per board lot would adjust from HK$870 to HK$3,480. This adjustment aligns with the guidelines under the relevant trading arrangement and aims to reduce the overall proportion of trading and handling fees relative to the market value of each board lot.

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