---
title: "Why OIO Shares Are Down After Business Combination Update"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/284433222.md"
description: "OIO Group (NASDAQ:OIO) shares fell 20% to $1.52 after clarifying its post-business combination share structure with De Tomaso Automobili. The update revealed 348,022,108 shares outstanding following a one-for-three reverse stock split, leading to ownership dilution for legacy shareholders. The stock is trading significantly below its 20-day SMA, indicating heavy selling pressure and a deeply oversold momentum with an RSI of 9.30. Key resistance is at $8.00, while support is at $2.00. OIO Group focuses on investment and development across various sectors, particularly luxury mobility and engineering."
datetime: "2026-04-28T18:13:00.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/284433222.md)
  - [en](https://longbridge.com/en/news/284433222.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/284433222.md)
---

# Why OIO Shares Are Down After Business Combination Update

**OIO Group** (NASDAQ:OIO) shares slipped on Tuesday after the company clarified its post-closing share structure.

The update follows its business combination with **De Tomaso Automobili**, offering investors clearer visibility into its capital setup.

## Post-Deal Share Structure

The company reported 348,022,108 ordinary shares outstanding after completing the transaction on April 24, 2026.

It also implemented a one-for-three reverse stock split, with shares trading on a split-adjusted basis under the ticker "OIO."

The increase in shares reflects the issuance of consideration shares to De Tomaso shareholders as part of the acquisition and does not indicate any new capital raising.

In financial terms, shareholders of the legacy company (OIO Group, formerly ESGL Holdings) have experienced ownership dilution.

## OIO Stock: Critical Levels To Watch

OIO is pinned near the bottom of its 52-week range after a sharp breakdown from its March peak, which keeps the longer-term trend tilted lower.

The stock is trading 76.8% below its 20-day simple moving average (SMA) of $8.22, a gap that points to heavy recent selling and a still-damaged short-term trend.

The relative strength index (RSI), a momentum gauge, is 9.30, which is deeply oversold and often shows sellers have been in control for an extended stretch. RSI at 9.30 reflects extreme downside momentum, even if bounces can appear suddenly.

-   **Key Resistance**: $8.00 — near the 20-day averages, where rebounds often run into supply
-   **Key Support**: $2.00 — near the recent low area, where buyers may try to defend the floor

## What Is OIO Group's Business Model?

OIO Group operates as an investment and development platform focused on building and supporting businesses across multiple sectors. Its activities include investing in and developing companies with an emphasis on engineering, industrial transformation, and performance-oriented brands.

The post-closing update matters because the De Tomaso deal and reverse split reshape how investors view share count.

It also affects how traders interpret the company's future trading history.

Management is positioning the group as a brand-led platform focused on luxury mobility, engineering, and its Environmental Solutions business.

**OIO Price Action:** Oio shares were down 20.00% at $1.52 at the time of publication on Tuesday. The stock is trading at a new 52-week low, according to Benzinga Pro data.

_Photo Courtesy: solarseven via Shutterstock_

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