FIH Mobile (HKG:2038) is proposing to consolidate every 10 issued and unissued shares of par value of $0.04 each into one consolidated share of par value $0.40 apiece, a Thursday filing with the Hong Kong bourse said.
Following consolidation, the handset manufacturer's authorized share capital will remain at $800 million but will be divided into 2 billion consolidated shares as opposed to 20 billion shares currently.
The share consolidation, which is subject to shareholder and regulatory approvals, is expected to become effective May 20.
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