Wai Chun Bio-Technology (HKG:0660) will hold an extraordinary general meeting on April 30 to vote on the company's proposed capital reorganization.

The biotech firm is planning a capital reorganization in which it will reduce the par value of each of its issued ordinary share to HK$0.01 from HK$0.25, according to a Thursday bourse filing.

The company will reduce its issued share capital by cancelling the paid-up capital of HK$0.25 on each issued ordinary share.

Following the reduction, each authorized but unissued ordinary and preference share with a par value of HK$0.25 will be divided into 25 new shares with a par value of HK$0.01 each.

After the reorganization, the company's authorized capital will become 10 billion new ordinary shares, totaling HK$100 million, and 204 million new preference shares, amounting to HK$2.04 million.

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