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BEDU - Bright Scholar Education announces ADS ratio change
Bright Scholar Education Holdings Limited American Depositary Shares each representing one Class A
Bright Scholar Education ( NYSE: BEDU ) said Monday it will change the ratio of its American depositary shares to class A ordinary shares from 1 ADS representing 1 class A share to 1 ADS representing 4 class A shares.
For ADS holders, the ratio change will have the same effect as a 1-for-4 reverse ADS split.
There will be no change to BEDU's class A ordinary shares.
The ratio change will be effective at the open of business on Aug. 19.
Any fractional ADS will be sold and net proceeds from the sale of fractional ADS will be distributed to the entitled holders.