UTime Limited will undergo reverse share split to comply with Nasdaq minimum bid price.

From GlobeNewswire: 2024-09-09 11:00:00

UTime Limited, a mobile device manufacturing company, will undergo a 1-for-25 reverse share split of its Ordinary Shares on September 11, 2024, to comply with Nasdaq’s minimum bid price requirement of $1.00 per share. This will reduce the outstanding shares from 450 million to approximately 18 million. Shareholders approved this on August 28, 2024, and VStock Transfer, LLC will handle the process. UTime aims to provide affordable mobile devices globally and support low-income individuals from both established and emerging markets. They have also added smart electric vehicle chargers to their product line.



Read more at GlobeNewswire: UTime Limited Announces 1-For-25 Reverse Share Split