2023-03-23 06:44:21 ET
- Supply chain service provider BEST ( NYSE: BEST ) plans to implement a change in the ratio of its American Depositary Shares to its Class A ordinary shares, effective on or about April 4, 2023.
- The ratio will be changed from one (1) ADS to five (5) Class A ordinary shares currently to a new ratio of one (1) ADS to twenty (20) Class A ordinary shares. The change will have the same effect as a one-for-four reverse ADS split.
- As a result, BEST's ADS trading price is expected to increase proportionally.
- BEST shares were down around 4% in Thursday's premarket hours
For further details see:
BEST to execute ADS ratio change