Food King (Global) (08619) plans to change the English name to “NIU Holdings Limited”

Zhitong Finance App News, Food King (Global) (08619) issued an announcement. The board of directors of the company, together with its subsidiaries collectively known as the “Group”, proposed changing the company's English name from “King of Catering (Global) Holdings Ltd.” to “NIU Holdings Limited” and removing the company's Chinese name “Food King (Global) Holdings Co., Ltd.”

The board of directors also proposed changing the English stock abbreviation for the company's shares traded on the Stock Exchange from “King of Catering” to “NIU”, and deleting the Chinese stock abbreviation “King of Food”. The company's stock code remains unchanged and is “8619.”

The board of directors intends to propose a share consolidation to the shareholders to consolidate every 10 existing shares with a face value of HK$0.01 per share, each with a face value of HK$0.01 per share, into a consolidated share with a face value of HK$0.1 per share.

As of the date of this announcement, the trading unit for each lot of existing shares on the Stock Exchange is 2,000 existing shares. The board of directors proposed changing the trading unit for each lot traded on the Stock Exchange from 2,000 existing shares to 10,000 shares after the share merger comes into effect.

The company proposed increasing the authorized share capital from HK$15 million (divided into 150 million consolidated shares) to HK$150 million (divided into 1.5 billion consolidated shares) (after the share merger comes into effect) through the addition of 1.35 billion consolidated shares.