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Treasure Global Inc. (TGL) shares jumped nearly 200% on Friday after the company’s 1-for-20 reverse stock split took effect at the market open, aimed at boosting its per-share price as it works to regain compliance with Nasdaq’s minimum $1 bid requirement.
The split reduced Treasure Global’s outstanding shares from roughly 16.96 million to about 848,100.
The Malaysia-based technology firm said fractional shares will be rounded up and added that shareholders’ proportional ownership remains unchanged. Still, Treasure Global cautioned that the reverse split alone does not guarantee long-term compliance with Nasdaq listing rules.
TGL’s jump follows heightened interest earlier in the week after the company projected more than 500% revenue growth in 2026. The company cited several operational milestones across its fintech and digital-asset ecosystem, including development of the OXI Wallet platform, an exclusive partnership to manage 200 million UNIRWA real-world-asset tokens, and the acquisition of Quarters Elite, a Malaysian financial advisory firm overseeing about $150 million in assets.
The company said these initiatives create a multi-layered ecosystem spanning digital payments, tokenization, and financial services, positioning the company for accelerated growth into next year.
Treasure Global operates the ZCITY Super App, which combines e-payments with loyalty rewards and had reached more than 2.7 million registered users across Malaysia as of June.
On Stocktwits, retail sentiment for Treasure Global was ‘extremely bullish’ amid ‘extremely high’ message volume.

One user suggested that after-hours trading in the stock “will be very interesting,” adding that people shouldn’t miss their chance because “next week [it could hit] triple digits” and urged others to “hold.”
Another user said, “imo just needs to survive to ah where its free to run.”
Treasure Global’s stock has declined 88% so far in 2025.
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