Fangdd Network Group Ltd. announced on June 4, 2025, that a share consolidation, or reverse stock split, would take effect on June 9, 2025. The consolidation involves converting every 16 ordinary shares into 1 ordinary share.
The primary purpose of this share consolidation is to bring the company into compliance with the Nasdaq Listing Rule 5450(a)(1), which sets a minimum bid price requirement. Shareholders approved this action, along with an increase in authorized share capital and amendments to the company's memorandum and articles of association, at an extraordinary general meeting on May 27, 2025.
Immediately prior to the consolidation, FangDD had 62,472,674 issued and outstanding ordinary shares, which were reduced to 3,904,565 shares post-consolidation. While this action does not alter any shareholder's percentage ownership, it is a critical step to maintain the company's listing on Nasdaq.
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