Chinese clothing manufacturer Shenzhou International Group Holdings Ltd. said Dec. 20 that it will change the board lot size of ordinary shares in the company's share capital to 100 shares from 1,000 shares per certificate.
The change will take effect at 9 a.m. Hong Kong time on Jan. 15, 2019.
According to the announcement, shareholders of the company can trade in their existing 1,000-share certificates for new share certificates of 100 shares each for free from 9 a.m. on Dec. 31 through 4:30 p.m. on Feb. 11, 2019.
After this period, existing share certificates will be accepted for exchange for HK$2.50 for each new share certificate.
The company expects the reduction to attract more investors, which could improve the shares' liquidity and broaden Shenzhou's shareholder base.