VEON - VEON announces ratio change under its ADR program
- VEON ( NASDAQ: VEON ) has approved a change of ratio in the Company’s ADR program, from one ADS representing one Share, to one ADS representing twenty-five Shares.
- The effective date of the ratio change is expected to be 6 March 2023.
- For ADS holders, the ratio change will have the same effect as a one for twenty five reverse ADS split.
- As a result of the ratio change, the trading price of the Company’s ADSs is expected to automatically increase proportionally.
- Nasdaq granted an additional grace period through 3 April 2023 to regain compliance with the minimum bid price requirement set forth in Nasdaq’s Listing Rule
- VEON is +3.1% to $0.63
- Source: Press Release
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VEON announces ratio change under its ADR program