04:42 PM EDT, 06/28/2024 (MT Newswires) -- Jiuzi Holdings ( JZXN ) said Friday it will implement a 1-for-13 reverse stock split to help regain compliance with the minimum bid price requirement for continued listing on Nasdaq.

The company said its shares will begin trading on a split-adjusted basis July 3.

Jiuzi ( JZXN ) said the reverse share split will reduce the number of its shares to about 10.4 million from around 135.3 million.

Shares of the company fell more than 3% in after-hours activity.

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