Lufax Holding Ltd (LUFAX, NYSE: LU) disclosed that it will amend the share ratio of its American Depositary Shares (ADS). Each ADS will soon represent 20 ordinary shares, compared with the current 2-share representation, effectively constituting a 1-for-10 reverse split of the ADSs.
The company has submitted Post-Effective Amendment No. 2 to its Form F-6 registration statement with the U.S. Securities and Exchange Commission to reflect the new ratio. Citibank, N.A. will remain the ADS depositary, and the Hong Kong-based custodian will continue to be Citibank, N.A. – Hong Kong.
Lufax stated that the adjustment will be executed through an amendment to the existing Deposit Agreement dated 3 November 2020 (previously amended on 15 December 2023). The change will also trigger corresponding updates to outstanding American Depositary Receipts and to the form of ADR attached to the Deposit Agreement.
No fractional ADSs will be issued. Any fractional entitlement will be aggregated, sold by the depositary, and the net cash proceeds distributed to relevant holders. Lufax confirmed that the board, chaired by Dicky Peter Yip, has approved the move, and notices detailing implementation procedures will be sent to ADS holders.
According to the filing, the depositary is authorised to print new ADR certificates reflecting the revised ratio and will coordinate with The Depository Trust Company (DTC) for the automatic adjustment of book-entry positions. Holders of uncertificated ADSs are not required to take action; certificated ADS holders may exchange their ADRs for new certificates once available.
The announcement, made in Hong Kong on 1 October 2026, fulfills Rule 13.10B of the Hong Kong Listing Rules. Lufax’s board currently comprises one executive director, Mr Xiang Ji, and five independent non-executive directors, including Chairman Mr Yip.
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