SG GROUP HLDGS (01657.HK): Proposes name change to Sefon Holdings and one-for-ten share subdivision

NewTimeSpace News: On 10 September 2026, SG Group Holdings Limited (stock code: 01657) announced that the board proposed to change the company's English name from "SG Group Holdings Limited" to "Sefon Holdings Limited" and its Chinese dual foreign name from "樺欣控股有限公司" to "四方偉業控股有限公司", and to subdivide each existing share of HKD 0.01 each into ten subdivided shares of HKD 0.001 each.

According to the announcement, the name change is conditional upon approval by shareholders via a special resolution at an extraordinary general meeting and approval by the Registrar of Companies in the Cayman Islands, and will take effect on the date the Registrar issues the certificate of incorporation on change of name confirming registration of the new names. The board stated that following the acquisition of a controlling interest in the company by Hong Kong Weiye, wholly owned by Sifang Weiye Software, the change is intended to reflect the relationship between Sifang Weiye Software and the company and to establish a new corporate image. The share subdivision is conditional upon the passing of an ordinary resolution, the Stock Exchange granting approval for the listing of and dealing in the subdivided shares, and compliance with applicable Cayman Islands laws and the Listing Rules, and will take effect on the second business day after fulfilment.

The announcement stated that as at the date thereof, the company's authorised share capital was HKD 2,000,000 divided into 200,000,000 shares of HKD 0.01 each, with 32,000,000 shares in issue; assuming no further issue or repurchase of shares, 320,000,000 subdivided shares will be in issue upon effectiveness, with authorised share capital of HKD 2,000,000 divided into 2,000,000,000 subdivided shares of HKD 0.001 each, while the board lot of 500 shares will remain unchanged. Based on the closing price of HKD 46.90 per share on the date of the announcement, the market value of a board lot of 500 shares was HKD 23,450, and the expected value of a board lot following the subdivision will be HKD 2,345; based on the lowest daily closing price of HKD 14.7 per share in the six months preceding the announcement, the theoretical adjusted price is HKD 1.47 per subdivided share, not lower than HKD 1, satisfying Rule 13.64A. The extraordinary general meeting will be held at 2:00 p.m. on 30 September 2026 in Chengdu, Sichuan Province, with the subdivision expected to take effect on 5 October 2026. 

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