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Evergrande Health Reduces Threshold and Plans to Split Shares from 1 to 10

2015-07-27 14:35

HONG KONG, July 27, 2015 /PRNewswire/ -- On July 24th, Evergrande Health (HK.0708) announced that the company intends to split the existing shares from 1 to 10 shares, which is expected to take effect on August 25th, still with the trading unit of 5,000 shares. An original report from Sina Leju follows.

According to the statement of Evergrande Health (HK.0708), the split shares will increase the total number of shares issued, but reduce the trading price per share, and therefore, lower the market value of the trading unit to attract more investors.

Calculated at Evergrande Health's closing price of HK$7.69 per share dated July 24th, the current total price of HK$38,450 at the trading unit of 5,000 shares, after the split takes effect, it will fall to HK$3,845. "This will not only greatly reduce the trading threshold for investors whose admission is likely to be easier, but also facilitate the transaction, enhance the liquidity, and therefore help improve the company's valuation," a brokerage analyst said.

On July 24, Evergrande Health (HK.0708) continued the recent rally, with the closing value up 3.5% to HK$7.69, with a volume of 4.205 million shares and turnover of HK$31.4982 million. Whereas in the past 2 weeks, the stock price almost doubled.

Source: Sina Leju

Related stocks: HongKong:0708

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