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Fitness Champs Holdings Ltd. (NASDAQ:FCHL) shares are trending on Wednesday night.
FCHL shares skyrocketed 127.49% in after-hours trading on Wednesday, jumping to $3.89.
According to Benzinga Pro data, FCHL closed the regular session at $1.71, down 41.84%.
Reverse Split Aimed at Saving Nasdaq Listing
According to a Mar. 18 Securities and Exchange Commission filing, FCHL’s board approved the 15-for-1 share consolidation on Feb. 12 to regain compliance with Nasdaq Marketplace Rule 5550(a)(2), which mandates a minimum bid price of $1 per share.
The consolidation took effect on Monday.
No fractional shares were issued, as every 15 shares were automatically combined into one.
Along with the consolidation, the company reclassified its authorized share capital into Class A ordinary …
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