Jiuzi Holdings Plans 1-For-18 Reverse Share Split
Portfolio Pulse from Benzinga Newsdesk
Jiuzi Holdings plans to execute a 1-for-18 reverse share split to regain compliance with the minimum bid price requirement of $1.00 per ordinary share for continued listing on Nasdaq. The split-adjusted trading is expected to begin on or around July 10, 2023.
July 07, 2023 | 12:03 pm
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Jiuzi Holdings' planned 1-for-18 reverse share split is aimed at maintaining its Nasdaq listing by meeting the minimum bid price requirement. The split-adjusted trading is expected to start on July 10, 2023.
The reverse share split will increase the price per share of Jiuzi Holdings, helping it to meet the minimum bid price requirement for continued listing on Nasdaq. However, it does not fundamentally change the company's value and thus the short-term impact on the stock price is neutral.
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