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HONG KONG - Top Wealth Group Holding Limited (NASDAQ:TWG), a supplier of premium sturgeon caviar with a market capitalization of $7.79 million, announced Thursday that it has approved a 1-for-90 share consolidation of its Class A and Class B ordinary shares to regain compliance with Nasdaq listing requirements. According to InvestingPro data, the stock has fallen over 82% in the past year, trading at just $0.15 per share.
The consolidation will take effect at market open on July 21, 2025, with TWG shares continuing to trade on the Nasdaq Capital Market under the same symbol but with a new CUSIP number (G8945S110). InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 3.25, though revenue has declined by 72% over the last twelve months.
The primary purpose of the share consolidation is to enable the company to meet Nasdaq Marketplace Rule 5550(a)(2), which sets minimum bid price requirements for continued listing.
Under the consolidation plan, every 90 issued and outstanding ordinary shares with a par value of $0.0001 each will be consolidated into one ordinary share with a par value of $0.009. Any fractional shares resulting from the consolidation will be rounded up to the next whole number.
The company noted that the consolidation will affect all shareholders uniformly and will not alter any shareholder’s percentage interest in the company’s outstanding ordinary shares, except for adjustments from the treatment of fractional shares.
Top Wealth’s board of directors approved the share consolidation on June 11, 2025, following shareholder approval on April 8, 2025.
The Hong Kong-based company specializes in supplying premium sturgeon caviar endorsed with Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES) permits. It supplies caviar under customer brand labels and sells products under its own Imperial Cristal Caviar brand. InvestingPro subscribers can access 8 additional key insights about TWG’s financial health and market position, including detailed valuation metrics and growth indicators.
The information in this article is based on a company press release.
In other recent news, Top Wealth Group Holding Limited announced a memorandum of understanding with Jilin Xiuzheng Agriculture and Animal Husbandry Technology for a potential business merger. This agreement involves Jilin Xiuzheng injecting its animal-related business into Top Wealth in exchange for new shares, which would grant it majority control. Additionally, Top Wealth Group reported the appointment of Mr. Kai Yin Wong as an independent director and chairman of the Audit Committee, following the resignation of Ms. Phei Suan Ho for personal reasons. Mr. Wong brings extensive experience in accounting and auditing to the company. Furthermore, Top Wealth Group has been granted a 180-day extension by Nasdaq to meet the minimum bid price requirement, with a deadline set for December 8, 2025. The company is actively exploring options to regain compliance within this timeframe. These developments come as Top Wealth continues to operate its caviar business under its existing management.
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