August 20th (Beijing Time) - $MIN FU INTL (08511.HK)$ is about to implement a 1-for-40 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from October 3rd, 2024.
$MIN FU INTL (08511.HK)$ rose 3.85% and closed at HK$0.027 on August 19th with a turnover of HK$134.42K. $MIN FU INTL (08511.HK)$ now has a total market capitalization of HK$19.43 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.