Comtec forced into shares consolidation

A falling share price has put the Chinese developer at risk of breaching requirements to maintain its Hong Kong listing. Shareholders are set to vote on consolidating their stock next month.The falling share price of Shanghai-based solar and project developer Comtec Solar has prompted the board to call an extraordinary general meeting (EGM) next month to consolidate stock. Under the rules of the Hong Kong exchange where Comtec is listed, companies must maintain a share value of more than HK$0.01 (US$0.0013) and should draw up plans to consolidate shares once the stock price dips below HK$0.10. ...

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