OIO Group Announces Post-Closing Shares Outstanding Following Business Combination
Rhea-AI Summary
OIO Group (Nasdaq: OIO) announced completion of its business combination with De Tomaso Automobili Holdings and the post-closing capital structure. The company completed a 1-for-3 reverse stock split effective April 24, 2026, and its ordinary shares began trading on Nasdaq on a split-adjusted basis.
Following closing and the reverse split, OIO has 348,022,108 ordinary shares issued and outstanding, reflecting consideration shares issued to De Tomaso shareholders and not new financing.
Positive
- Business combination with De Tomaso completed on April 24, 2026
- Ordinary shares commenced trading on Nasdaq Capital Market on a split-adjusted basis
- Post-closing shares outstanding reported as 348,022,108
Negative
- Issued consideration shares increased total outstanding shares to 348,022,108, diluting legacy holders' percentage ownership
News Market Reaction – OIO
In the Apr 28 session, OIO declined 10.00%, reflecting a significant negative market reaction. Argus tracked a peak move of +10.4% during that session. Argus tracked a trough of -26.8% from its starting point during tracking. Our momentum scanner triggered 20 alerts that day, indicating elevated trading interest and price volatility. Trading volume was exceptionally heavy at 7.7x the daily average, suggesting significant selling pressure.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 23 | Business combination | Positive | -58.4% | Completion of De Tomaso combination and change of control with new leadership. |
| Apr 22 | Reverse stock split | Negative | -4.2% | Approval of 1-for-3 reverse split ahead of Nasdaq listing and merger closing. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent corporate actions around the De Tomaso business combination and reverse split have coincided with sharp negative price reactions.
In late April 2026, OIO Group executed a 1-for-3 reverse stock split tied to its Nasdaq listing and the De Tomaso business combination. The announcement of the split on Apr 22 saw a modest decline, while completion of the combination and change of control on Apr 23 was followed by a much steeper selloff. Today’s update clarifies the post-closing share count after the same reverse split and transaction framework already disclosed.
Key Terms
business combination financial
reverse stock split financial
Nasdaq Capital Market regulatory
equity consideration financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
SINGAPORE, April 28, 2026 (GLOBE NEWSWIRE) -- OIO Group (Nasdaq: OIO) (the “Company”) today announced its post-closing share capital following the completion of its previously disclosed business combination with De Tomaso Automobili Holdings Limited on April 24, 2026.
In connection with the transaction, the Company effected a one-for-three (1-for-3) reverse stock split of its ordinary shares, effective April 24, 2026. The Company’s ordinary shares commenced trading on The Nasdaq Capital Market on a split-adjusted basis under the ticker symbol “OIO” on the same date.
Following the closing of the business combination and the effectiveness of the reverse stock split, the Company has 348,022,108 ordinary shares issued and outstanding. The increase in shares outstanding reflects the issuance of consideration shares to De Tomaso shareholders as part of the business combination, representing the equity consideration for the acquisition, and does not reflect any new capital raising or financing activity.
About OIO Group
OIO Group (NASDAQ: OIO), formerly known as ESGL Holdings Limited, is a Singapore-based public company focused on building and scaling distinctive operating businesses with strong brand heritage, engineering capability, and long-term growth potential.
Following the completion of its business combination with De Tomaso Automobili, OIO Group is repositioning as a brand-led operating platform anchored in luxury mobility and advanced engineering. The Group operates through De Tomaso Automobili and Environmental Solutions (Asia) Pte. Ltd., and is expanding into complementary sectors where brand strength, engineering excellence, and disciplined value creation intersect.
OIO Group’s strategy is to combine operational execution with disciplined capital allocation to build a focused portfolio of high-quality businesses with global growth potential.
For more information, including the Company’s filings with the U.S. Securities and Exchange Commission, please visit https://oiogroup.co.
Forward-Looking Statements
Certain statements in this press release may be considered to contain “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as “target,” “believe,” “expect,” “will,” “shall,” “may,” “anticipate,” “estimate,” “would,” “positioned,” “future,” “forecast,” “intend,” “plan,” “project,” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the current beliefs, expectations, and assumptions of management of OIO Group. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of the Company’s control. Actual results and outcomes may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.
A further list and description of risks and uncertainties can be found in documents filed with the U.S. Securities and Exchange Commission (“SEC”) by the Company and in other documents that the Company may file or furnish with the SEC, which you are encouraged to read. Any forward-looking statement made by the Company in this press release is based only on information currently available and speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments, or otherwise, except as required by law.
Investor Relations Contact
OIO Group Investor Relations Department
Email: ir@oiogroup.co
Phone: +65 6653 2299
