Wang & Lee Group, Inc. (WLGS), a Hong Kong-based electrical and mechanical systems contractor, will implement a 250-to-1 share combination effective September 2, 2025, following board approval on July 28.
Each 250 pre-combination shares will automatically convert into one share without affecting par value, reducing outstanding shares from about 174.7 million to roughly 698,700.
The move aims to raise WLGS's share price to meet Nasdaq listing requirements. Shares will continue trading under the symbol "WLGS" but with a new CUSIP (G9T22C118).
The share combination does not require shareholder approval under British Virgin Islands law.
Thursday, WLGS closed at $0.0445, down 7.29%, and is trading after hours at $0.0436, down 2.03%, on the NasdaqCM.
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