Fang Announces ADS Ratio Change
Fang Holdings Limited American Depositary Shares (Each representing Four Class A Ordinary Shares, HK$1.00 par value) (SFUN)
Last fang holdings limited american depositary shares (each representing four class a ordinary shares, hk$1.00 par value) earnings: 11/30 06:22 am
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US:NYSE Investor Relations:
ir.fang.com
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Source: PR Newswire
BEIJING, June 25, 2019 /PRNewswire/ -- Fang Holdings Limited (NYSE: SFUN) ("Fang" or "we"), a leading real estate Internet portal in China, today announced that the ratio of American depositary shares ("ADSs") representing its Class A ordinary shares is being amended from five (5) ADSs representing one (1) Class A ordinary share to one (1) ADS representing one (1) Class A ordinary share.For Fang's ADS holders, this ratio change will have the same effect as a 1-for-5 reverse ADS split. There will be no change to Fang's Class A ordinary shares. Furthermore, no physical action by ADS holders will be required to effect the ratio change, as the change will be effected on the books of the depositary. The effect of the ratio change on the ADS trading price on New York Stock Exchange is expected to take place at the open of business on July 8, 2019 (U.S. Eastern Time). Any fractional ADSs will be sold and the net proceeds from the sale of fractional ADSs will be distributed to the holders ent
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