Fresh2 Group ADSs Fall After Ratio Change Announced

Dow Jones07-09

By Stephen Nakrosis

The American depositary shares of Fresh2 Group were trading in the red in the after-hours market following news the company will change the ratio of its ADSs from one representing 20 shares of Class A stock to one representing 200 shares of Class A stock.

After the bell, the ADSs fell 7.4% to trade at 31 cents. They finished Monday's regular session with a 5.78% gain, closing at 34 cents.

The ratio change is expected to take effect on July 10.

No fractional ADSs will be issued, and holders entitled to a fractional ADS will instead receive cash, the company said.

Fresh2 said it is a B2B e-commerce and supply chain management company within the restaurant and food industry.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 08, 2024 16:53 ET (20:53 GMT)

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