Biodexa Pharmaceuticals Announces 1 ADR For 400 Ordinary Share Ratio Change Effective July 5, 2023
Portfolio Pulse from Benzinga Newsdesk
Biodexa Pharmaceuticals (NASDAQ:BDRX) announces a ratio change on its American Depositary Receipts (ADR) from 1 ADR representing 5 ordinary shares to 1 ADR representing 400 ordinary shares, effective July 5, 2023. This change will have the same effect as a one-for-eighty reverse ADR split.
June 22, 2023 | 8:19 pm
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Biodexa Pharmaceuticals' ADR ratio change from 1:5 to 1:400, effective July 5, 2023, will have the same effect as a one-for-eighty reverse ADR split.
The ADR ratio change will have the same effect as a one-for-eighty reverse ADR split, which is typically done to increase the stock price and attract more investors. However, the short-term impact on the stock price is uncertain as it depends on how the market perceives the change.
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