India, April 2 -- Antelope Enterprise Holdings Ltd (AEHL) and HCW Biologics Inc. (HCWB) announced late Tuesday that their respective Board of Directors have approved a 1-for-40 reverse stock split.
In the extended trading on the Nasdaq, shares of Antelope Enterprise fell 28 percent and that of HCW Biologics were down 4 percent.
Antelope Enterprise, which is the majority interest owner of Kylin Cloud, a Chinese livestreaming e-commerce business, said that its Class A ordinary shares will begin trading on the Nasdaq from April 4 on a split-adjusted basis.
The move will reduce the total number of Antelope Enterprise shares to about 1.04 million from approximately 41.43 million.
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