XChange TEC.INC Announces Plan to Implement ADS Ratio Change

PR Newswire11-04

SHANGHAI, Nov. 4, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ: XHG) (the "Company") today announced that it plans to change the ratio of the American depositary shares ("ADSs") representing its Class...

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}","selectors":"article","filters":"","directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2480258983","pubTimestamp":1730728800,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"SHANGHAI, Nov. 4, 2024 /PRNewswire/ -- XChange TEC.INC   today announced that it plans to change the ratio of the American depositary shares  representing its Class A ordinary shares from one  ADS representing six hundred thousand  Class A ordinary share to one  ADS representing twelve million  Class A ordinary shares.As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than twenty times the ADS price before the change.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4173":"保险经纪商","XHG":"XChange TEC","BK4233":"房地产运营公司"},"translate_title":"XChange TEC.INC宣布计划实施ADS比率变更","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"XHG":1},"content_text":"SHANGHAI, Nov. 4, 2024 /PRNewswire/ -- XChange TEC.INC (NASDAQ: XHG) (the \"Company\") today announced that it plans to change the ratio of the American depositary shares (\"ADSs\") representing its Class A ordinary shares from one (1) ADS representing six hundred thousand (600,000) Class A ordinary share to one (1) ADS representing twelve million (12,000,000) Class A ordinary shares.\nFor the ADS holders, the change in the ADS ratio will have the same effect as a one-for-twenty reverse ADS split. There will be no change to the Company's Class A ordinary shares. The effect of the ratio change on the ADS trading price on The Nasdaq Capital Market is expected to take place at the open of trading on November 8, 2024 (U.S. Eastern Time) (the \"Effective Date\"). Holder of ADSs will be required on a mandatory basis to surrender their old ADSs to the Company's depositary, The Bank of New York Mellon (the \"Depositary\"), in exchange for every twenty (20) then-held (old) ADSs to receive one (1) new ADS. The ADSs will continue to be traded on The Nasdaq Capital Market under the symbol \"XHG.\"\nNo fractional new ADSs will be issued in connection with the change in the ADS ratio. Instead, fractional entitlements to new ADSs will be aggregated and sold by the Depositary and the net cash proceeds from the sale of the fractional ADS entitlements (after deduction of fees, taxes and expenses) will be distributed to the applicable ADS holders by the Depositary.\nAs a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than twenty times the ADS price before the change.\n View original content:https://www.prnewswire.com/news-releases/xchange-tecinc-announces-plan-to-implement-ads-ratio-change-302295207.html\nSOURCE XChange TEC.INC","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2480258983"}