2021-12-01 05:06:17 TEDU Tarena
12/01/21 12/0105:06 12/01/2105:06 | Tarena to implement ADS ratio changeTarena announced that it plans to change the ratio of its American depositary shares, or ADSs to its Class A ordinary shares, par value $0.001 per share, from the current ADS Ratio of one ADS to one Class A ordinary share to a new ADS Ratio of one ADS to five Class A ordinary shares. The company will file a post-effective amendment to the ADS Registration Statement on Form F-6 with the SEC to reflect the change in the ADS Ratio. The company anticipates that the change in the ADS Ratio will be effective on December 23, subject to the SEC having declared the post-effective amendment to the ADS Registration Statement on Form F-6 to be effective. For Tarena's ADS holders, the change in the ADS Ratio will have the same effect as a one-for-five reverse ADS split. Each ADS holder of record at the close of business on the date when the change in ADS ratio becomes effective will receive one new ADS in exchange for every five existing ADSs then held. Tarena's ADSs will continue to be traded on Nasdaq. |
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