Intercont (Cayman) Limited Announces Effective Time of Share Consolidation/Reverse Share Split
Key Highlights
- ➤8-for-1 reverse split effective November 16, 2026, under Nasdaq symbol NCT
- ➤Authorized Class A shares reduced from 3.2 billion to 400 million
- ➤Issued Class A shares reduced from 16,286,926 to 2,035,866
- ➤Par value increases from $0.0625 to $0.50 per Class A share
- ➤Company previously completed a 25-for-1 consolidation on September 17, 2026
SINGAPORE, Nov. 10, 2026 (GLOBE NEWSWIRE) -- Intercont (Cayman) Limited (“Intercont” or the “Company”), a global shipping enterprise, today announced that it will effect a share consolidation (“Reverse Share Split”) of its ordinary shares at a ratio of 8-for-1, effective as of November 16, 2026 (the “Effective Time”). The company determined that the share consolidation is advisable to mitigate the risk of market manipulation commonly associated with low-priced securities, stabilize the trading profile of our ordinary shares and strengthen the quality of our shareholder base.
Beginning with the opening of trading on November 16, 2026, the Company’s Class A ordinary shares will trade on the Nasdaq Capital Market on a split-adjusted basis, under the same symbol “NCT” but under a new CUSIP number, G48049137.
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