Share-capital-cut proposal of Cheuk Nang Technologies approved

Cheuk Nang Technologies (0131) announced that the proposal of reducing share capital had been approved by the court and the company was renamed as Cheuk Nang Holdings. The new stock will begin trading tomorrow. The company proposed to reduce the issued shares from HK$1 bln to HK$10 mln (par value HK$0.001 each). Furthermore, the company will increase 990 mln more new shares so as to resume the authorized capital to HK$1 bln.

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