Gogox Holdings (HKG:2246) proposed a 10-to-1 share consolidation, reducing its issued shares from 628,827,391 to 62,882,739, according to a Monday filing with the Hong Kong bourse.
The authorized share capital will remain at $50,000. The board plans to increase the trading lot size from 200 to 2,000 consolidated shares.
Based on the closing price of HK$0.530 per share, the new lot value would be HK$10,600. The consolidation is subject to shareholder approval at an upcoming EGM.
The logistics solution providers' shares were down by 17%.
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