"SMB Leasing (SEMB) announced that the company will be reducing its stated capital from Rs. 1,147Mn to Rs. 518.3 Mn(Subject to Approval) by writing off the brought forward losses of the company"
I need to know as to what would be the consequences of this announcement and what would happen to the price of the share once the stated capital had been reduced. I had bought SEMB.W16 at 0.6 and is it advisable to hold on to this and for how long.. ?