OIO Group Splits Stock for Nasdaq Debut with De Tomaso

SINGAPORE – April 22, 2026 – In a move that paves the way for one of the year's more intriguing corporate transformations, OIO Group has announced a 1-for-3 reverse stock split, a critical financial maneuver ahead of its planned listing on the Nasdaq Capital Market. The action, effective April 24, is inextricably linked to the concurrent closing of its business combination with the legendary Italian supercar manufacturer, De Tomaso Automobili.

The Singapore-based company, which is undertaking a radical pivot from environmental services to a holding company for heritage brands, will begin trading on Nasdaq under the symbol “OIO.” This series of corporate actions signals the final step in a bold strategy to merge a publicly-traded entity with the mystique and engineering prowess of a revived automotive icon.

The Financial Gateway to America

At its core, the reverse stock split is a technical necessity. OIO’s board approved the consolidation of every three existing ordinary shares into one new share primarily to satisfy Nasdaq’s minimum bid price requirement, stipulated under Listing Rule 5550(a)(2). This rule generally requires shares to maintain a price of at least $1.00 for listing. By artificially increasing its per-share price, OIO ensures it can clear this crucial hurdle for its U.S. market debut.

While effective, reverse stock splits are often viewed with skepticism by the market. They are typically employed by companies whose stock prices have fallen significantly, and can be perceived as a sign of underlying financial distress rather than strength. This negative stigma can sometimes lead to further selling pressure post-split.

However, OIO Group's situation presents a more complex narrative. The split is not a standalone act of desperation but a calculated component of a much larger, transformative acquisition. It is the key that unlocks the Nasdaq listing, which in turn provides De Tomaso with access to the deep liquidity of U.S. capital markets—a vital resource for the capital-intensive business of producing exclusive, high-performance automobiles. The move is less about fixing a falling price and more about setting a proper stage for the combined company's grand entrance.

From Green Tech to Grand Tourers

OIO Group's strategic evolution is as dramatic as any of the vehicles its new acquisition builds. Until recently, the company was known as ESGL Holdings Limited, a Singapore-based environmental solutions provider founded in 1999. Its primary subsidiary, Environmental Solutions (Asia) Pte. Ltd., specializes in treating and recycling hazardous industrial waste for a range of industries, positioning itself as a carbon-neutral enviro-tech firm.

This background makes the pivot to luxury automobiles startling. OIO Group's new mission is to become a diversified holding company focused on “distinctive operating businesses with strong heritage, engineering capability, and long-term growth potential.” The acquisition of De Tomaso is the cornerstone of this new identity, representing a complete shift from industrial services to a brand-driven, consumer-facing luxury model.

The company is betting that its experience in disciplined operations can be applied to a portfolio of enduring brands. While the environmental solutions business remains, the spotlight has decisively moved to the high-octane world of Italian automotive craftsmanship, creating a corporate structure that is unique, if not unconventional.

A Legend Reborn on the Public Market

The name De Tomaso resonates deeply with automotive enthusiasts. Founded in 1959 by Argentine-born Alejandro de Tomaso in Modena, Italy, the brand became famous for its audacious fusion of Italian design and American muscle. Its most iconic creation, the Pantera, was a V8-powered supercar that became a symbol of 1970s automotive excess and performance. After years of financial struggles and multiple changes in ownership, the marque faded into dormancy.

The brand's modern revival began in 2014 when it was acquired by Hong Kong-based Ideal Team Ventures, led by Norman Choi. This new chapter has culminated in the creation of breathtaking new vehicles that honor the company's heritage. The flagship is the De Tomaso P72, a stunning homage to the P70 prototype racing car from the 1960s. Built on a state-of-the-art carbon-fiber chassis, the P72 is powered by a supercharged 5.0-liter Ford Coyote V8 producing 700 horsepower. With a production run limited to just 72 units, its exclusivity is guaranteed.

Following the P72 is the even more extreme, track-only P900, of which only 18 will be made. The combination with OIO Group and the subsequent Nasdaq listing is intended to provide the financial firepower necessary to scale production, enhance global marketing, and secure De Tomaso's second act. It offers the revived automaker a stable public platform to execute its long-term vision without being solely dependent on private funding cycles.

High Stakes on the Road Ahead

The merger of a Singaporean environmental services firm with a resurrected Italian supercar brand is a high-risk, high-reward proposition. The stated synergies, such as leveraging OIO's expertise in low-impact manufacturing for De Tomaso's production, will need to be proven in practice. The luxury automotive market is notoriously competitive, and building a sustainable business requires more than just a storied name and a beautiful product.

Financial filings paint a challenging picture, with OIO Group reporting a pro forma loss of US$12.8 million for fiscal year 2025 for the combined entity. This indicates that profitability is a goal for the future, not a current reality. Investors will be weighing the potent allure of the De Tomaso brand against the significant financial and execution risks.

As the combined company prepares to trade on Nasdaq, all eyes will be on its performance. The reverse stock split and listing are merely the starting line. The true test will be whether OIO Group can successfully integrate its disparate parts, manage the immense costs of supercar development and production, and ultimately convince the market that this audacious combination can generate long-term value. For now, both automotive enthusiasts and market watchers are holding their breath, waiting to see if this reborn legend can finally find a sustainable path forward on the open road of the public markets.