Dunxin Financial Holdings Limited Announces Planned ADS Ratio Change
- The change in the ADS ratio is expected to increase the ADS price proportionally.
- Fractional new ADSs will not be issued, and the net cash proceeds from the sale of fractional ADS entitlements will be distributed to applicable ADS holders.
- None.
There will be no change to the Company's ordinary shares. The effect of the ratio change on the ADS trading price on the NYSE American (the "NYSE American") is expected to take place at the open of trading on July 25, 2023 (
No 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 bank 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 bank.
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 the ADS price on a proportionate basis.
About Dunxin Financial Holdings Limited
Dunxin is a licensed microfinance lender serving individuals and SMEs in
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; the growth of market in
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SOURCE Dunxin Financial Holding Limited
FAQ
What is the ratio change for Dunxin Financial Holdings Limited's ADSs?
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What will happen to fractional new ADSs?