Jumei Announces Plan to Implement ADS Ratio Change
JUMEI INTL HOLDING LTD (JMEI)
US:NYSE Investor Relations:
ir.jumei.com
Company Research
Source: GlobeNewswire
BEIJING, Dec. 31, 2019 (GLOBE NEWSWIRE) -- Jumei International Holding Limited (NYSE: JMEI) ("Jumei" or the "Company"), China's leading online retailer of beauty products, today announced that it plans to change the ratio of its American Depositary Shares (“ADSs”) to its Class A ordinary shares (the “ADS Ratio”), par value US$0.00025 per share, from the current ADS Ratio of one (1) ADS to one (1) Class A ordinary shares to a new ADS Ratio of one (1) ADS to ten (10) Class A ordinary shares. The Company anticipates that the change in the ADS Ratio will be effective on or about January 10, 2020 (the “Effective Date”). For Jumei’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split. On Effective Date, ADS holders of the Company will be required to surrender their old ADSs to the Company’s depositary bank, The Bank of New York Mellon (the “Depositary”), for cancellation of every ten (10) existing ADSs for one (1) new ADS. Jumei’s ADSs
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