(RTTNews) - U Power Limited (UCAR), a Chinese vehicle sourcing service provider, on Friday announced a 1-for-100 reverse share split.
The company noted that no fractional shares will be issued in connection with the share consolidation, and all fractional shares resulting from the share consolidation will be rounded up to the whole number of shares.
At the opening of trading on April 3, U Power's shares will begin trading on a post-share consolidation basis on the Nasdaq under the same symbol, "UCAR," with a new CUSIP number of G9520U116.
The company added that the share consolidation is being implemented primarily to regain compliance with Nasdaq rules related to the minimum bid price per share.
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