U Power Limited (UCAR) has released an update.
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U Power Limited has announced a consolidation of its ordinary shares, with every 100 shares to be merged into one, effective March 31, 2024. This strategic move aims to comply with Nasdaq’s minimum bid price requirement and prevent potential delisting. Post-consolidation, the company’s share capital will be restructured, with fractional shares rounded up, ensuring a smooth transition for shareholders.
For further insights into UCAR stock, check out TipRanks’ Stock Analysis page.