YJ - Yunji falls on ADS ratio change

2023-06-12 07:17:15 ET

• Yunji ( NASDAQ: YJ ) plans to change the current ADS ratio of 1 ADSs to 10 Class A ordinary shares to a new ADS Ratio of 1 ADS to 100 Class A ordinary shares, effective on or about June 20, 2023.
• For Yunji's ADS holders, the change in the ADS Ratio will have the same effect as a one-for-ten reverse ADS split, effective on or about June 20, 2023.
• Each ADS holder will be required to surrender and exchange every ten (10) existing ADSs then held for one (1) new ADS on the date when the change in ADS Ratio is effective.
• 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.
• YJ 6% premarket to $0.195
• Source: Press Release

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