Brightstar Technology Group (08446.HK): Proposes 20-for-1 Share Consolidation; Effective Date Expected July 31

NewTimeSpace · 2026/07/02 22:01 · By Zeyu Wu

Brightstar Technology Group proposes a 20-for-1 share consolidation to maintain its authorized share capital at HK$30 million while reducing issued shares from 1.125 billion to approximately 56.3 million, with the board lot remaining at 2,000 shares. The move aims to address the share price trading below HK$0.15 and comply with GEM listing requirements, subject to shareholder and Stock Exchange approval, with an expected effective date of July 31, 2026.

Brightstar Technology Group Co., Ltd. (08446.HK) announced that the board proposes to implement a share consolidation on the basis of every twenty (20) existing shares of HK$0.01 each into one (1) consolidated share of HK$0.20 each.

As of the date of this announcement, the company's authorized share capital is HK$30,000,000, divided into 3,000,000,000 existing shares of HK$0.01 each, of which 1,125,105,470 existing shares have been allotted and issued. Upon the share consolidation becoming effective, the authorized share capital will remain HK$30,000,000, divided into 150,000,000 ordinary shares of HK$0.20 each, of which 56,255,273 consolidated shares will be issued and fully paid.

The share consolidation is conditional upon: (1) approval by ordinary resolution at the EGM; (2) approval by the GEM Listing Committee of the Stock Exchange for the listing and trading of consolidated shares; and (3) compliance with relevant procedures and requirements under applicable Cayman Islands law and the GEM Listing Rules. The effective date is expected to be July 31, 2026.

The board lot will remain unchanged at 2,000 consolidated shares. Based on the closing price of HK$0.096 per existing share (equivalent to a theoretical closing price of HK$1.92 per consolidated share), the value of a board lot of 2,000 existing shares is HK$192.

The announcement stated that as the closing price of the shares has been below HK$0.150 since the beginning of 2026, causing the board lot value to remain below HK$2,000, the board proposes the share consolidation to comply with GEM Listing Rule 17.76 and the relevant guidance. Fractional shares will be rounded down, pooled, and sold for the company's benefit. Shareholders may exchange existing share certificates for new consolidated share certificates free of charge from July 31 to September 7, 2026.

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