Taoping rises on reverse stock split announcement

Taoping

31/07/2023 18:00

** Shares of cloud-based tech co Taoping Inc  TAOP.O  up
16.5% at $0.54
    ** Co announces 1-for-10 reverse stock split of co's issued
and outstanding ordinary shares, no par value
    ** Beginning August 1, co's ordinary shares will be trading
on a split-adjusted basis
    ** Reverse stock split is intended to increase per share
trading price of ordinary Shares to satisfy $1.00 minimum bid
price requirement for continued listing on NASDAQ, says co
    ** TAOP shares down 17.6% YTD

 (Reporting by Rupali Chaudhary in Bengaluru)
 ((Rupali.chaudhary@thomsonreuters.com))