TONGDA GROUP (00698) announced that the board of directors proposes to implement a share consolidation on the basis that every 50 issued and unissued existing shares with a par value of HK$0.01 each will be consolidated into 1 consolidated share with a par value of HK$0.5 each. As of the date of this announcement, the existing shares are traded on the Stock Exchange in board lots of 10,000 existing shares per board lot. The board proposes that, subject to the share consolidation becoming effective, the board lot for trading on the Stock Exchange will be changed from 10,000 existing shares to 1,000 consolidated shares.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.