Kingkey Financial International (Holdings) (HKG:1468) directors plan to consolidate every 10 shares at HK$0.01 apiece into one consolidated share at HK$0.10 apiece, according to a Wednesday filing with the Hong Kong Stock Exchange.
Under the scheme, the 9,155,955,680 existing shares with a capital of HK$100 million will be consolidated into 915,595,568 shares with an authorized capital of HK$1 billion.
Shares closed 13% lower in Hong Kong on Thursday.
Price (HKD): $0.07, Change: $-0.01, Percent Change: -13.10%
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