GLG - TD Holdings slips on reverse stock split

• TD Holdings ( NASDAQ: GLG ) shares dipped over 3% pre-market on Wednesday after the Chinese commodities trading service provider initiated a reverse stock split mainly to comply with the minimum bid price listing requirements of Nasdaq.
• The company's common stock is expected to begin trading on a reverse stock split-adjusted basis when the markets open on Aug. 17, 2022 under the existing trading symbol "GLG."
• As a result of the reverse stock split, every five shares of the company's common stock issued and outstanding will be automatically reclassified into one new share of common stock.
• The reverse stock split will not modify any rights or preferences of the shares of the company's common stock.
• No fractional shares will be issued because of the reverse stock split.

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