The 08220.HK Group proposes a share consolidation on the basis of merging every 10 issued and unissued existing shares into 1 new share, which is subject to approval at the EGM and proposes to change the trading unit per share from 20, 000 existing shares to 10, 000 new shares after the share merger takes effect.
According to the closing price of $0.028 per share on the date of the company's announcement (28th), assuming that the share merger and alteration have taken effect, the estimated value of 10 000 new shares per lot will be $2800.