Oriental Rise Holdings Ltd. (NASDAQ:ORIS) jumped 18.84% to $0.49 after the bell on Monday after the China-based company disclosed a board-approved reverse stock split.

What You Should Know

According to a Monday Securities and Exchange Commission filing, shareholders approved the measure on May 15, authorizing the board to consolidate shares at a ratio between 1-for-2 and 1-for-100. The board subsequently set the ratio at 1-for-4, with fractional shares rounded up. The effective market date has not yet been announced.

A reverse split reduces outstanding share count while proportionally lifting the per-share price. It does not change market capitalization.

Short interest of the stock currently ...