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An announcement from China Wood International Holding Co., Limited ( (HK:1822) ) is now available.
China Wood International Holding Co., Limited plans to restructure its share capital by sharply reducing the par value of its issued shares and adjusting its unissued share structure. The board aims to tidy up the balance sheet by using the reduction in paid-up capital to offset accumulated losses, potentially improving the company’s financial position and flexibility for future corporate actions.
The proposal will cut the par value of each issued share from HK$0.10 to HK$0.01, shrinking issued share capital from about HK$98.7 million to HK$9.87 million, with the HK$88.82 million credit applied against accumulated losses. Immediately after the reduction, each authorised but unissued share will be subdivided into ten new shares of HK$0.01 par value, subject to shareholder approval and other conditions to be detailed in a forthcoming circular ahead of the annual general meeting.
More about China Wood International Holding Co., Limited
Average Trading Volume: 158,377
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$141.1M
See more data about 1822 stock on TipRanks’ Stock Analysis page.