Zhitong Financial APP News, Honghao International Holdings (08375) issued a notice proposing to implement a share merger to shareholders, which involves merging every five issued and unissued shares of HK $0.01each into one consolidated share of HK $0.05each.
It is proposed that after the share consolidation takes effect, 96 million shares will be issued on the basis of one rights issue for every two consolidated shares held on the record date at HK $0.21 per share. The net income was HK $18.7 million.