- Jiuzi Holdings (NASDAQ:JZXN) on Friday said it will affect a reverse share split of its outstanding ordinary shares, par value $0.00015 per share, at a ratio of 1-for-13, to be effective on or around the open of trading on July 3.
- Following the reverse share split, the ordinary shares will have a par value of $0.00195 per share and will continue to trade on Nasdaq under the symbol “JZXN”.
- The reverse share split is intended for the company to regain compliance with the minimum bid price requirement of $1.00 per ordinary share for continued listing on Nasdaq.
- The reverse share split will reduce the number of issued and outstanding shares of the company’s ordinary shares from about 135.3 million to nearly 10.4 million.
- Source: Press Release
2024-06-28