Qilian International Holding Group Limited Announces 1 for 5 Reverse Share Split
CHENGDU, China, June 18, 2024 /PRNewswire/ — Qilian International Holding Group Limited (NASDAQ:QLI) (“Qilian” or the “Company”), a China-based pharmaceutical and chemical products manufacturer, announced today that an 1 for 5 reverse split of its authorized share capital, was approved by the Company’s board of directors on May 29, 2023 and will become effective on June 21, 2024. In connection with the reverse share split, the Company’s shareholders will receive one new Class A ordinary share or Class B ordinary share of the Company for every five Class A ordinary shares or every five Class B ordinary shares they hold, respectively. The Company’s Class A ordinary shares are expected to begin trading on a split-adjusted basis when the market opens on June 21, 2024.