Breton Technology (HKG:1333) said its board has approved a proposal to implement full circulation for 106.8 million domestic unlisted shares, representing about 28.1% of its issued share capital, according to a July 18 Hong Kong bourse filing.

Shares of the company were down over 2% in recent trade.

The proposed conversion is subject to regulatory approvals, including filing with the China Securities Regulatory Commission and approval from the Hong Kong bourse, the filing said.

Once approved, the converted shares will be listed and tradable as H-shares on the main board.

The company has not yet submitted application documents to the CSRC and said it will provide further updates as appropriate.