BEIJING (dpa-AFX) - Fangdd Network Group Ltd. (DUO), a China-based property tech company, announced it will implement a 1-for-16 share consolidation effective at 8:00 a.m. ET on June 9, 2025.
Following the consolidation, its Class A ordinary shares will continue trading on Nasdaq under the symbol 'DUO' with a new CUSIP number, G33147128.
The consolidation merges every 16 shares with a par value of $0.0005625 into 1 share with a new par value of $0.009. This move, approved by the board and shareholders during the May 27, 2025, extraordinary general meeting, aims to meet the minimum bid price requirement under Nasdaq Listing Rule 5450(a)(1). The action also included approval to increase authorized share capital and amend corporate documents.
Prior to the change, FangDD had 62,472,674 outstanding ordinary shares, which will become 3,904,565 shares post-consolidation. Shareholder ownership percentages remain unaffected, aside from minor adjustments for fractional shares.
Wednesday, DUO closed at $0.2071, up 3.55%, and declined after hours to $0.2031, down 1.93%, on the Nasdaq Capital Market.
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