Golden Power Group (HKG:3919) plans to consolidate its shares on a 20-to-1 basis, combining every 20 existing shares of par value HK$0.01 into one new HK$0.20 share, according to its Thursday bourse filing.
Currently, the company has 540 million issued shares from an authorized capital of 2 billion shares. Post-consolidation, this will reduce to 27 million issued shares from a new authorized capital of 100 million shares.
The proposed consolidation, subject to shareholder approval, aims to streamline the company's share structure.
Golden Power Group's shares fell 14% recently.
Price (HKD): $0.05, Change: $-0.0080, Percent Change: -14.04%
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