VCI Global (VCIG) said Tuesday it will implement a 1-for-20 reverse stock split of its shares to help regain compliance with the minimum bid price required for Nasdaq listing.
VCI said its shares will trade on a split-adjusted basis from April 3.
The reverse stock split will reduce the number of its shares to about 2.8 million from some 54.5 million, the company said.
Shares of VCI Global fell past 16% in recent trading.
Price: 0.35, Change: -0.07, Percent Change: -16.55
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