QK - Q&K International announces ADS ratio change

Q&K International (NASDAQ:QK) says that it will change the ratio of the American depositary shares representing its Class A ordinary shares from one ADS representing thirty Class A ordinary share to one ADS representing one hundred and fifty Class A ordinary shares. For the ADS holders, the change in the ADS ratio will have the same effect as a one-for-five 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 Nasdaq is expected to take place at the open of trading on March 7, 2022.

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Q&K International announces ADS ratio change