- 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.
For further details see:
Bright Scholar Education announces ADS ratio change