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South China Financial to conduct reverse stock split

South China Financial Holdings Ltd. plans to conduct a 50-to-1 reverse stock split.

The company is also set to change each board trading lot of 50,000 shares to 2,000 units to comply with trading rules.

The plans are subject to shareholder and regulatory approvals, according to an Oct. 18 release.

The reverse stock split will take effect Nov. 8.