Graphjet Technology announced the effective date for a share consolidation of its ordinary shares at a ratio of 1-for-60.
The share consolidation will reduce the par value of the ordinary shares from $0.0001 per share to $0.006 per share.
It will become effective on August 25, 2025, and the ordinary shares are expected to begin trading on a split-adjusted basis on The Nasdaq Global Market under the existing trading symbol, GTI.
Share Consolidation Details
The share consolidation will combine 60 ordinary shares into one share and will not affect shareholders' percentage ownership, except for fractional share adjustments.
CUSIP Number Change
The new CUSIP number for the ordinary shares following the consolidation will be G30449139.
Shareholder Approval
The share consolidation was approved by shareholders at an extraordinary general meeting, with the ratio determined by the Board.
- The share consolidation is intended to increase the trading price of the ordinary shares to meet Nasdaq's continued listing requirements.
- No fractional shares will be issued, and any fractional share resulting from the consolidation will be rounded up to the nearest whole share.
The announcement of the share consolidation by Graphjet Technology reflects a strategic move to enhance trading price and meet Nasdaq listing requirements, offering existing shareholders a more consolidated ownership structure.