YY Group Holding Limited (NASDAQ:YYGH) shares fell on Thursday after the company announced a 30-for-1 reverse stock split aimed at regaining compliance with Nasdaq listing requirements.

YYGH closed Thursday’s regular session at $0.080, down 37.70%. In after-hours trading, shares fell to $0.073, down 9.46%.

YY Group is a Singapore-based AI-native workforce management platform and integrated facility management provider serving sectors including hospitality, food and beverage, retail, transportation and banking.

Reverse Stock Split Pressures Shares

The company said its Class A ordinary shares will begin trading on a split-adjusted basis on June 23 under the existing ticker symbol YYGH.

Under the reverse split, every 30 outstanding Class A ordinary shares will be combined into one share. The move will reduce the company’s outstanding Class A ordinary shares from approximately 96.05 million to approximately 3.2 million shares.

No fractional shares will be issued. Shareholders who would otherwise receive fractional shares will instead receive one full share.

YY Group said the reverse stock split is primarily intended to help the company meet Nasdaq’s $1.00 minimum bid price requirement and maintain its listing.

Chairman and CEO Mike Fu said maintaining the Nasdaq listing remains a priority. He added that following the completion of the company’s $20 million at-the-market equity program on June 16, management is focused on expanding its technology platform and scaling its commercial humanoid robotics operations.

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Trading Metrics, Technical Analysis

YY Group has a market capitalization of approximately $8.05 million.

The stock has traded between a 52-week high of $172.50 and a 52-week low of $0.07.

Over the past 12 months, YYGH shares have declined approximately 99.92%.

Benzinga Edge Stock Rankings indicate YYGH has negative short-term, medium-term and long-term price trends.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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