Guangzhou News on November 1st | IDT INT'L (00167.HK) announced that the board of directors recommends implementing the company's capital restructuring in the following ways: (a) share consolidation; (b) increase in statutory share capital; (c) capital reduction; (d) share split; and (e) cancellation of share premium. Among them, the share consolidation involves consolidating existing shares of 60 shares with a par value of HK$0.10 per share into 1 share with a par value of HK$6.00 per share.
In addition, the board of directors proposes to change the trading unit of shares on the Stock Exchange from 2,000 existing shares to 16,000 new shares per unit, but this can only be done after the capital restructuring takes effect. The trading of company shares on the Stock Exchange has been suspended since 9:00 a.m. on April 3, 2023 (Monday) and will continue to be suspended until the resumption guidance is issued.
