SplitApr 15, 2026, 07:32 AM
Powell Max Announces 1-for-10 Share Consolidation to Meet Nasdaq Listing
AI Summary
Powell Max Limited announced a 1-for-10 share consolidation, effective April 17, 2026. This action is intended to increase the market price per share of the Company's Class A Ordinary Shares to meet the Nasdaq Capital Market's US$1.00 minimum bid price requirement for continued listing. The consolidation will reduce the number of issued and outstanding Class A Ordinary Shares from 10,371,518 to approximately 1,037,152, and Class C Ordinary Shares from 6,781,611 to approximately 678,162. Additionally, the company's authorized share capital will be reduced from 550,250,000 shares to 55,025,000 shares.
Key Highlights
- 1-for-10 share consolidation effective April 17, 2026.
- Aims to increase market price above Nasdaq's US$1.00 minimum bid.
- Issued Class A shares reduced from 10.37M to ~1.04M.
- Issued Class C shares reduced from 6.78M to ~0.68M.
- Authorized capital reduced from 550.25M to 55.025M shares.