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Ridgetech Inc., formerly known as China Jo-Jo Drugstores, Inc., announced the completion of a capital reduction and share subdivision. According to a recent SEC filing, the changes were approved during the company’s annual general meeting on February 25, 2025. The shareholders agreed to reduce the par value of each issued ordinary share from $0.24 to $0.001, effectively canceling the paid-up capital difference.
Following this reduction, the company’s authorized but unissued ordinary shares were subdivided into 240 new shares with a par value of $0.001 each. This restructuring was contingent upon an order from the Grand Court of the Cayman Islands, which was granted on May 28, 2025.
The company completed the registration with the Cayman Islands Registrar of Companies, and the new share structure became effective on May 28, 2025. The authorized share capital now stands at $36,010,000, comprising 36 billion ordinary shares and 10 million preferred shares, each with a par value of $0.001.
This information is based on a press release statement and reflects Ridgetech’s ongoing corporate restructuring efforts.
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