Globavend Holdings Limited announced its intention to effect a 1-for-200 reverse stock split of the company’s ordinary shares, with trading on a post-split basis anticipated to begin on July 21, 2025.
This reverse stock split will reduce the number of outstanding shares from approximately 253 million to approximately 1.27 million, affecting all outstanding ordinary shares proportionally.
Shareholders approved the reverse stock split at an extraordinary general meeting held on April 28, 2025, and the Board of Directors subsequently approved the 1-for-200 ratio. The par value of the ordinary shares will be proportionally increased from $0.001 to $0.20.
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