Baihong Industrial (02299) proposes to implement a share merger

According to Zhitong Finance App, Baihong Industrial (02299) issued an announcement. The board of directors proposed a share merger. According to this, each two issued and unissued existing shares with a face value of HK$0.01 per share in the company's share capital will be merged into a consolidated share with a face value of HK$0.02 per share.

On the date of this announcement, existing shares were traded on the Stock Exchange with 2,000 existing shares per trading unit. After the share merger comes into effect, each trading unit traded on the Stock Exchange will remain unchanged at 2,000 consolidated shares.