Hao Tian International Construction Board Proposes Share Consolidation

MT Newswires Live

01/19

Hao Tian International Construction Investment Group (HKG:1341) said its board proposed a five-for-one share consolidation, according to a Hong Kong bourse filing Friday.

Shares of the construction machinery leasing business fell nearly 17% in late morning trade Monday.

The consolidation will reduce the company's authorized share capital from 20 billion shares to 4 billion shares of HK$0.05 each.

The company said it will call a meeting of shareholders to seek approval for the consolidation.

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