China Tower (00788) announced that the board of directors suggests merging existing shares at a ratio of 10 shares with a par value of 1.00 RMB per share into 1 share with a par value of 1.00 RMB per share.
According to the Zhitong Finance APP news, China Tower (00788) announced that the board of directors recommends merging every 10 existing shares with a par value of 1.00 RMB per share into 1 share with a par value of 1.00 RMB, and reducing the company's total issued share capital from 176.008 billion RMB to 17.601 billion RMB as part of the proposed share merger and capital reduction implementation.
As of the date of this announcement, existing H shares are traded in lots of 2000 shares. The board of directors proposes that, following the effective date of the proposed share merger and capital reduction, the trading unit on the Hong Kong Stock Exchange will change from 2000 existing H shares to 500 merged and reduced H shares.
