April 19th - $SHIN HWA WORLD (00582.HK)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from June 17th, 2024.
$SHIN HWA WORLD (00582.HK)$ closed at HK$0.039 on April 18th with a turnover of HK$2.91 million. $SHIN HWA WORLD (00582.HK)$ now has a total market capitalization of HK$197.78 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.