SINGAPORE, March 02, 2026 (GLOBE NEWSWIRE) -- Davis Commodities Limited ("Davis Commodities" or the "Company") (Nasdaq: DTCK), a global agri-commodity trading company, today announced that its board of directors (the "Board") has approved the implementation of a 20-for-1 reverse share split (the "Reverse Split") of the Company's Class A ordinary shares ("Class A Ordinary Shares") and Class B ordinary shares ("Class B Ordinary Shares"). The Reverse Split was previously approved by shareholders on February 4, 2026 and trading of shares commences on a split-adjusted basis on March 9, 2026.
Under the terms of the Reverse Split, every 20 issued and unissued Class A Ordinary Shares will be consolidated into one Class A Ordinary Share, and every 20 issued and unissued Class B Ordinary Shares will be consolidated into one Class B Ordinary Share. Following the Reverse Split, the par value of each Class A Ordinary Share and Class B Ordinary Share will increase from US$0.000000430108 to US$0.00000860216. No fractional shares will be issued; any fractional entitlements will be rounded up to the nearest whole share.
The Company's Class A Ordinary Shares will continue to trade on the Nasdaq Capital Market under the symbol "DTCK." The new CUSIP number for the Class A Ordinary Shares following the Reverse Split will be G2677P113.
The Reverse Split is intended to help the Company maintain compliance with Nasdaq's continued listing standards and potentially improve the market trading price of its shares.
For further information, please visit https://ir.daviscl.com
About Davis Commodities Limited
Based in Singapore, Davis Commodities Limited is an agricultural commodity trading company that specialises in trading sugar, rice, and oil and fat products in various markets, including Asia, Africa and the Middle East. The Company sources, markets, and distributes commodities under two main brands, Maxwill and Taffy, in Singapore. The Company also provides customers of its commodity offerings with complementary and ancillary services, such as warehouse handling and storage and logistics services.
The Company utilises an established global network of third-party commodity suppliers and logistics service providers to distribute sugar, rice, and oil and fat products to customers in over 20 countries.
