The company aims to meet Nasdaq’s $1 minimum bid price requirement by reducing outstanding shares to 3.2M from 96.05M.
YY Group Holding (YYGH) shares dropped 40% to $0.08 after announcing a 30-for-1 reverse stock split set for June 23. The move will cut outstanding Class A shares to approximately 3.2M from 96.05M while maintaining shareholder proportional ownership.
The reverse split is intended to restore compliance with Nasdaq’s $1 minimum bid price rule. YYGH currently trades well below the threshold, risking delisting without intervention. The stock will retain its ticker symbol post-split.
No immediate market reaction beyond the price decline was reported.