Shareholders of Renaissance Asia Silk Road Group (HKG:0274) will meet March 17 to vote on a proposed capital reorganization, a Feb. 28 bourse filing said.
Under the capital reorganization, the firm will consolidate every 10 issued and unissued shares of par value of HK$0.05 each into one consolidated share of par value HK$0.50.
Then, each authorized but unissued consolidated share will be subdivided into 500 new shares of par value HK$0.001 apiece.
The move aims to boost the stock price of Renaissance Asia Silk Road as the recent trading prices of its shares have fallen below HK$0.10, which is considered trading at extremity under Hong Kong listing rules.
Price (HKD): $0.05, Change: $-0.0010, Percent Change: -1.89%
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