August 28th - $PROSPEROUSPRINT (08385.HK)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from August 29th, 2023.
$PROSPEROUSPRINT (08385.HK)$ closed at HK$0.041 on August 25th . $PROSPEROUSPRINT (08385.HK)$ now has a total market capitalization of HK$35.66 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.