April 30th - $RA SILK ROAD (00274.HK)$ is about to implement a 1-for-5 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from June 3rd, 2024.
$RA SILK ROAD (00274.HK)$ slipped 2.7% and closed at HK$0.036 on April 29th with a turnover of HK$16,674. $RA SILK ROAD (00274.HK)$ now has a total market capitalization of HK$104.85 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.