Wai Chun (HKG:1013) plans to reduce its share capital to HK$0.01 per share from HK$0.80 apiece, according to a Thursday filing with the Hong Kong Exchange.

The chemical trader will cancel the paid-up capital by HK$0.79 apiece, the filing said.

After the capital reduction, the authorized but unissued shares of HK$0.80 each will be subdivided into 80 new shares at HK$0.01 each, the filing said.