Eg.
Previously the company has RM1 par value of 8 millions share.
Now company carries out capital reduction exercise, it cancels 0.875 of the par value, so par value become Rm0.125, afterwards, it under reverse split from the Rm0.125 par value back to Rm1.00 with reserve split of 8:1, so that Par value is back to Rm1.00.

So previously you have 8 shares of Rm1 par value, now become 1 share with RM1 par value.

Although share price will be adjusted accordingly, the value of worth of the share is different already.

Share price is not the same with share worth. The price adjustment in the stock market is about reference price, just like stock price being deducted for dividend payout. It never reflect the real value of the share, it is a reference price only.

If solely look at share price, yes, it makes little different, but for value, worth of intrinsic of it, totally different.

For ordinary and purely reverse split, yes, nothing different. Just like AIG one.

Need to separate for ordinary reverse split, with reverse split because of capital reduction. 2 different things.