September 24th (Beijing Time) - $GRAND OCEAN AR (00065.HK)$ is about to implement a 1-for-10 reverse stock split of shares. The shares will begin trading on a split-adjusted basis from October 25th, 2024.
$GRAND OCEAN AR (00065.HK)$ rose 5.0% and closed at HK$0.084 on September 23rd with a turnover of HK$49,940. $GRAND OCEAN AR (00065.HK)$ now has a total market capitalization of HK$171.87 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.