June 20th (Beijing Time) - $STARLIGHT CUL (01159.HK)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from July 23rd, 2024.
$STARLIGHT CUL (01159.HK)$ rose 11.9% and closed at HK$0.188 on June 19th with a turnover of HK$1,606. $STARLIGHT CUL (01159.HK)$ now has a total market capitalization of HK$185.28 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.