NaaS Technology Inc. Announces Plan to Implement ADS Ratio Change
NaaS Technology Inc. (NAAS), the first U.S.-listed EV charging service company in China, has announced a significant change to its American Depositary Shares (ADS) ratio. The company will modify its ADS ratio from 1:200 to 1:800 Class A ordinary shares, effective April 28, 2025.
This adjustment will function as a one-for-four reverse ADS split, requiring ADS holders to exchange every 4 existing ADSs for one new ADS. JPMorgan Chase Bank will manage the exchange process, with fractional shares being aggregated and sold, with proceeds distributed to affected holders.
The company will continue trading on Nasdaq under the symbol 'NAAS'. While the ADS trading price is expected to increase proportionally, NaaS notes there's no guarantee the post-change price will be exactly four times the pre-change value. The change won't affect the underlying Class A ordinary shares structure.
NaaS Technology Inc. (NAAS), la prima società cinese di servizi di ricarica per veicoli elettrici quotata negli Stati Uniti, ha annunciato una modifica significativa al rapporto delle sue American Depositary Shares (ADS). L'azienda modificherà il rapporto ADS da 1:200 a 1:800 azioni ordinarie di Classe A, con effetto dal 28 aprile 2025.
Questa modifica funzionerà come un raggruppamento inverso di ADS uno a quattro, richiedendo ai detentori di ADS di scambiare ogni 4 ADS esistenti con un nuovo ADS. JPMorgan Chase Bank gestirà il processo di scambio, con le azioni frazionarie che saranno aggregate e vendute, e i proventi distribuiti ai detentori interessati.
L'azienda continuerà a essere quotata al Nasdaq con il simbolo 'NAAS'. Sebbene il prezzo di negoziazione delle ADS sia previsto aumentare proporzionalmente, NaaS sottolinea che non vi è garanzia che il prezzo post-modifica sarà esattamente quattro volte quello precedente. La modifica non influirà sulla struttura delle azioni ordinarie di Classe A sottostanti.
NaaS Technology Inc. (NAAS), la primera empresa china de servicios de carga para vehículos eléctricos cotizada en EE.UU., ha anunciado un cambio significativo en la proporción de sus American Depositary Shares (ADS). La compañía modificará la proporción de ADS de 1:200 a 1:800 acciones ordinarias Clase A, efectivo a partir del 28 de abril de 2025.
Este ajuste funcionará como una consolidación inversa de ADS de uno por cuatro, requiriendo que los poseedores de ADS intercambien cada 4 ADS existentes por uno nuevo. JPMorgan Chase Bank gestionará el proceso de intercambio, con las acciones fraccionarias siendo agrupadas y vendidas, y los ingresos distribuidos a los titulares afectados.
La compañía continuará cotizando en Nasdaq bajo el símbolo 'NAAS'. Aunque se espera que el precio de negociación de los ADS aumente proporcionalmente, NaaS señala que no hay garantía de que el precio posterior al cambio sea exactamente cuatro veces el valor anterior. El cambio no afectará la estructura subyacente de las acciones ordinarias Clase A.
NaaS Technology Inc. (NAAS)는 중국 최초로 미국에 상장된 전기차 충전 서비스 회사로, 미국 예탁증서(ADS) 비율에 중대한 변경을 발표했습니다. 회사는 2025년 4월 28일부터 ADS 비율을 1:200에서 1:800 클래스 A 보통주로 조정할 예정입니다.
이 조정은 4대 1 역병합 ADS로 작동하여, ADS 보유자는 기존 ADS 4주당 신 ADS 1주로 교환해야 합니다. JPMorgan Chase Bank가 교환 절차를 관리하며, 소수점 주식은 합산 후 매각되고 그 수익은 해당 보유자에게 분배됩니다.
회사는 계속해서 나스닥에서 'NAAS' 심볼로 거래됩니다. ADS 거래 가격은 비례하여 상승할 것으로 예상되나, NaaS는 변경 후 가격이 변경 전 가격의 정확히 4배가 될 것이라는 보장은 없다고 밝혔습니다. 이번 변경은 기본 클래스 A 보통주 구조에는 영향을 미치지 않습니다.
NaaS Technology Inc. (NAAS), la première société chinoise de services de recharge pour véhicules électriques cotée aux États-Unis, a annoncé un changement important dans le ratio de ses American Depositary Shares (ADS). La société modifiera son ratio ADS de 1:200 à 1:800 actions ordinaires de classe A, à compter du 28 avril 2025.
Ce changement se traduira par un regroupement inversé d'ADS au ratio de un pour quatre, obligeant les détenteurs d'ADS à échanger 4 ADS existantes contre une nouvelle ADS. JPMorgan Chase Bank gérera le processus d'échange, les fractions d'actions seront regroupées et vendues, et les produits distribués aux détenteurs concernés.
La société continuera à être cotée au Nasdaq sous le symbole 'NAAS'. Bien que le prix de négociation des ADS devrait augmenter proportionnellement, NaaS précise qu'il n'y a aucune garantie que le prix après changement sera exactement quatre fois supérieur au prix précédent. Ce changement n'affectera pas la structure sous-jacente des actions ordinaires de classe A.
NaaS Technology Inc. (NAAS), das erste in den USA gelistete chinesische Unternehmen für EV-Ladedienste, hat eine bedeutende Änderung des Verhältnisses seiner American Depositary Shares (ADS) angekündigt. Das Unternehmen wird das ADS-Verhältnis von 1:200 auf 1:800 Stammaktien der Klasse A zum 28. April 2025 ändern.
Diese Anpassung erfolgt als Vier-zu-Eins Reverse ADS-Split, bei dem ADS-Inhaber jeweils 4 bestehende ADS gegen 1 neue ADS eintauschen müssen. Die JPMorgan Chase Bank wird den Umtauschprozess verwalten, wobei Bruchstücke zusammengefasst und verkauft werden, und die Erlöse an die betroffenen Inhaber verteilt werden.
Das Unternehmen wird weiterhin unter dem Symbol 'NAAS' an der Nasdaq gehandelt. Obwohl der ADS-Handelspreis voraussichtlich proportional steigen wird, weist NaaS darauf hin, dass es keine Garantie dafür gibt, dass der Kurs nach der Änderung genau viermal so hoch sein wird wie zuvor. Die Änderung beeinflusst nicht die zugrunde liegende Struktur der Klasse-A-Stammaktien.
- Trading continues on Nasdaq, maintaining major exchange listing
- Professional management of ADS exchange through JPMorgan Chase Bank
- Potential price uncertainty after the reverse split
- Additional complexity for shareholders managing fractional shares
- Possible indication of share price support measures
Insights
NaaS's ADS ratio change functions as a 1:4 reverse split, quadrupling expected share price without changing company fundamentals.
NaaS Technology has announced a technical adjustment to its capital structure through an ADS ratio change from 1:200 to 1:800 Class A ordinary shares. This effectively creates a 1:4 reverse split for ADS holders, meaning investors will exchange 4 existing ADSs for each new ADS starting April 28, 2025.
The mechanical impact is straightforward: with each ADS now representing 800 ordinary shares instead of 200, the trading price should mathematically increase by a factor of 4. At the current price of
This adjustment is purely technical in nature. The article clearly states there will be "no impact on the Company's underlying Class A ordinary shares, and no Class A ordinary shares will be issued or cancelled." Shareholders will maintain the same proportional ownership of the company, just with fewer, higher-priced ADSs.
For shareholders holding fractional interests after the conversion (less than 4 current ADSs), those fractions will be aggregated and sold, with net cash proceeds distributed to affected shareholders. JPMorgan Chase Bank will handle the exchange process as the depositary.
While such ratio changes often aim to maintain exchange listing standards or position shares at more favorable trading ranges, no specific strategic rationale is provided in the announcement. The company will maintain its Nasdaq listing under the same "NAAS" ticker symbol.
For the Company's ADS holders, the change in the ADS Ratio will have the same effect as a one-for-four reverse ADS split. Each ADS holder of record at the close of business on the Effective Date will be required to surrender and exchange every 4 existing ADSs then held for one new ADS. JPMorgan Chase Bank, N.A., as the depositary bank for the Company's ADS program, will arrange for the exchange of the current ADSs for the new ones. The Company's ADSs will continue to be traded on the Nasdaq Stock Market under the symbol "NaaS."
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. The change in the ADS Ratio will have no impact on the Company's underlying Class A ordinary shares, and no Class A ordinary shares will be issued or cancelled in connection with the change in the ADS Ratio.
As a result of the change in the ADS Ratio, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be proportionally equal to or greater than 4 times the ADS trading price before the change.
About NaaS Technology Inc.
NaaS Technology Inc. is the first
Safe Harbor Statement
This press release contains statements of a forward-looking nature. These statements are made under the "safe harbor" provisions of the
For investor and media inquiries, please contact:
Investor Relations
NaaS Technology Inc.
E-mail: ir@enaas.com
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SOURCE NaaS Technology Inc.
FAQ
What is the new ADS ratio for NaaS Technology (NAAS) and when does it take effect?
How will the NaaS (NAAS) ADS ratio change affect shareholders?
Will the NaaS (NAAS) ADS ratio change impact the company's ordinary shares?
How will the NAAS stock price be affected by the ADS ratio change?
