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Xinming China (02699.HK) Proposes 25-for-1 Share Consolidation
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Xinming China (02699.HK) announced a proposal to implement a 25-for-1 share consolidation. The board lot size will remain unchanged at 2,000 shares, with trading to be conducted in board lots of 2,000 consolidated shares. Subject to the share consolidation becoming effective, the company also proposed to revise the terms of the 2026 rights issue. The subscription price will be adjusted to HKD4.7 per rights share (original rights issue price was HKD0.188, revised due to the share consolidation), on the basis of six rights shares for every one consolidated share held. A maximum of 22.5435 million rights shares will be issued (originally 564 million shares, revised due to the share consolidation), raising up to HKD106 million, with net proceeds of approximately HKD101.4 million. Other terms of the 2026 rights issue will remain unchanged. (wl/j) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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