Beijing Energy International (HKG:0686) is proposing to consolidate every 10 existing shares of its issued and unissued share capital into one consolidated share, subject to shareholder approval, according to a Wednesday bourse filing.
Since there are currently 22,333,644,432 existing shares on issue, the firm will have 2,233,364,443 consolidated shares on issue upon completion of the consolidation.
The clean energy company's authorized share capital will remain unchanged at HK$3 billion but will be divided into 3 billion consolidated shares of HK$1 each.
Shares of the company were down nearly 6% in recent trade.
Price (HKD): $0.16, Change: $-0.010, Percent Change: -5.95%
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