BJ SPORTS & ENT (01803) has issued an official statement regarding a significant corporate restructuring move involving its share capital structure.

According to the announcement, the company will consolidate every 10 issued and unissued ordinary shares, each with a par value of HK$0.005, into a single consolidated share with a par value of HK$0.05. This consolidation process will result in a reduction of approximately 1.521 billion shares from the company's total share count.

The share consolidation is designed to streamline the company's capital base and potentially enhance the trading liquidity of its shares on the stock exchange. Following the completion of this process, the adjusted share capital structure will take effect, impacting both existing shareholders and the overall market positioning of the company.