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CN Energy Group . Inc. (NASDAQ:CNEY), a company specializing in industrial organic chemicals, has announced a 1-for-25 reverse stock split of its Class A ordinary shares, to take effect at the start of trading on May 19, 2025. The reverse stock split is aimed at increasing the market price per share to comply with Nasdaq’s minimum bid price requirement for continued listing.
The number of issued and outstanding Class A ordinary shares will decrease from approximately 75.28 million to about 3.01 million. Fractional shares will not be issued; instead, shareholders will receive the nearest whole number of shares. The company’s trading symbol will remain "CNEY," but it will trade under a new CUSIP number G2181K204.
Vstock Transfer, LLC, the company’s transfer agent, will provide shareholders holding physical stock certificates with instructions on exchanging their certificates for split-adjusted shares in book-entry form. Those holding shares through a broker or in book-entry form will have their accounts automatically updated.
The information is based on a press release statement.
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