X Financial Announces ADS Ratio Change
X Financial American Depositary Shares, each representing six Class A Ordinary Shares (XYF)
Last x financial american depositary shares, each representing six class a ordinary shares earnings: 3/18 05:20 pm
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Source: PR Newswire
SHENZHEN, China, Nov. 10, 2020 /PRNewswire/ -- X Financial (NYSE: XYF) (the "Company" or "we"), a leading technology-driven personal finance company in China, today announced that it will change the ratio of its American depositary shares ("ADSs") representing its Class A ordinary shares from one (1) ADS representing two (2) Class A ordinary shares to one (1) ADS representing six (6) Class A ordinary shares.From the perspective of an ADS holder, the ADS ratio change will have the same effect as a one-for-three 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 New York Stock Exchange is expected to take place at the open of trading on November 19, 2020 (U.S. Eastern Time). On expected 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 as Depositary (the "Depositary"), for cancellation of ever
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