March 22nd - $XINXIANG ERA (08519.HK)$ is about to implement a 1-for-2 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from March 25th, 2024.
$XINXIANG ERA (08519.HK)$ slipped 5.88% and closed at HK$0.64 on March 21st with a turnover of HK$2.28 million. $XINXIANG ERA (08519.HK)$ now has a total market capitalization of HK$742.25 million.
What Is a Reverse Stock Split?
A reverse stock split consolidates the number of existing shares of stock held by shareholders into fewer shares. It does not directly impact a company's value. And it can signal a company in distress since it raises the value of otherwise low-priced shares.
Note:
The company's actual implementation is subject to the final disclosure submitted to the exchange. The information provided herein is for reference only.