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Oriental Rise Holdings Ltd. (NASDAQ:ORIS) jumped 18.84% to $0.49 after the bell on Monday after the China-based company disclosed a board-approved reverse stock split.
What You Should Know
According to a Monday Securities and Exchange Commission filing, shareholders approved the measure on May 15, authorizing the board to consolidate shares at a ratio between 1-for-2 and 1-for-100. The board subsequently set the ratio at 1-for-4, with fractional shares rounded up. The effective market date has not yet been announced.
A reverse split reduces outstanding share count while proportionally lifting the per-share price. It does not change market capitalization.
Short interest of the stock currently …
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