China LNG Group informed it is looking to subdivide each of the company’s existing, issued and unissued, share valued at HK$0.01 into five shares valued at HK$0.002 each.
The company also informed that it plans to change the board lot size for trading on the stock exchange from 5,000 shares to 20,000 subdivided shares.
In its filing to the stock exchange, China LNG said that it expects to close the share subdivision on August 10 following which the board lot size change will take effect.
Following the shares subdivision, the company’s authorized share capital will become HK$400,000,000 divided into 200,000,000,000 subdivided shares of par value of HK$0.002 each.
1 HKD = 0.128973 USD
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LNG World News Staff; Image: China LNG