Zhibao Technology (ZBAO) Stock Soars Over 60% After-Hours: What's Driving the Surge? - TradingView
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Zhibao Technology Inc. ZBAO shares surged 60.24% to $0.094 in after-hours trading on Thursday after the Chinese insurance technology company, which provides digital insurance brokerage services, said it will proceed with a 1-for-50 reverse stock split. Reverse Split Takes Effect MondayThe split will become effective Oct. 12, the company said. Class A ordinary shares will begin trading on a post-split basis at market open under the same "ZBAO" symbol, with a new CUSIP number. Shareholders approved the move at an extraordinary general meeting on Sept. 29. What Investors Should KnowEvery 50 Class A shares will be combined into one. Par value will rise from $0.0001 to $0.005 per share. The company said the split will apply equally to all Class A ordinary shares, leaving each shareholder’s ownership percentage unchanged, except for adjustments related to fractional shares. Any fractional shares will be rounded up to the next whole share. Read Also: Securitize Stock Jumps After Hours As It Launches Tokenized Apple, Nvidia, Tesla Shares On Solana The company will also make proportional adjustments to its equity plans and all outstanding equity awards.
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