- 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.
For further details see:
TD Holdings slips on reverse stock split