Neo-Concept International Group Holdings Ltd announced that its shareholders approved a share consolidation at an Extraordinary General Meeting (EGM) held on May 9, 2025. The approved share consolidation will convert every five issued and unissued shares into one consolidated share.
This consolidation applies to both Class A ordinary shares and Class B ordinary shares, each with a par value of US$0.0000625. Share consolidations are typically undertaken to increase a company's share price, often to meet minimum bid price requirements for stock exchange listings.
The company did not provide further details on the immediate implementation timeline or the specific impact on its Nasdaq listing compliance. This corporate action aims to adjust the company's capital structure.
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