Shareholders of China Xiniya Fashion Ltd. voted to change the company's name to Dunxin Financial Holdings Ltd. during a March 1 extraordinary general meeting, as the core business shifts from men's fashion to microlending.
American depositary shares of Dunxin Financial will start trading March 5 on NYSE American under the company's new name with the trading symbol DFX, according to a March 2 SEC filing.
Also during the meeting, the company's shareholders approved a resolution to create an additional 1 billion ordinary shares, which will rank equally with its existing ordinary shares. This increases the authorized share capital from US$50,000 divided into 1 billion ordinary shares with a par value of US$0.00005 each to US$100,000 divided into 2 billion ordinary shares.
These developments come less than three months after China Xiniya completed purchase and divestiture agreements to support the restructuring.
