Li Bang International shares fell roughly 23% in Wednesday's after-market trading following the company's announcement of a 1-for-200 reverse stock split. The split-adjusted shares are set to begin trading on the Nasdaq Capital Market on August 3. After the reverse split, the company's authorized share capital will consist of 15.75 million Class A ordinary shares and 1.75 million Class B ordinary shares, each with a par value of $0.002.
Li Bang International Corporation Inc. Ordinary SharesCompany announced a 1-for-200 reverse stock split, which typically signals financial distress and dilutes shareholder value, causing a 23% drop.