Cellyan Biotechnology Announces 1-for-20 Reverse Stock Split to Meet Nasdaq Compliance
Cellyan Biotechnology (HKPD) has announced a 1-for-20 reverse stock split, which is scheduled to take effect on October 26. This corporate action will increase the par value of both Class A and Class B ordinary shares from $0.001 to $0.02 per share. The primary objective behind this maneuver is to assist the company in regaining compliance with Nasdaq's minimum bid price requirements. To prevent shareholder dilution due to rounding, any fractional shares resulting from the split will be rounded up to the nearest whole share.
Tickers: $HKPD
Topics: Nasdaq compliance reverse stock split share structure
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