Genesis Pharmaceutical under new trade symbol

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Genesis Pharmaceuticals Enterprises Inc, which is a leading pharmaceutical company for the Peoples Republic of China which produces capsules, tablets and granules for western and chinese herbal based medications. They have finally completed a 40 for 1 reverse stock split. This is for their common stock and it will be traded under the new symbol of GNPH, previously the symbol was GNPH. It will be traded as split adjusted basis under the new symbol.
After this split the company now has more than 10,300,000 shares which are outstanding of common stock.
The reverse stock split of common shares has pleased the company a great deal. This was done to position this company for a move into senior U.S. stock market, which will improve the value along with marketability of the shares. Of course those who hold shares are not required to do anything to exchange shares, they will recieve letters of transmittal and will request stockholders to give up their certificates of stock for new ones that will show the adjusted numbers for the reverse stock split.