LIZHI INC. Announces Plan to Implement ADS Ratio Change from 1:20 to 1:200
Portfolio Pulse from Benzinga Newsdesk
LIZHI INC. (NASDAQ:LIZI), an audio-based social and entertainment platform, has announced plans to change the ratio of its American Depositary Shares (ADSs) to Class A ordinary shares from 1:20 to 1:200. This change will have the same effect as a one-for-ten reverse ADS split for LIZHI's ADSs holders. The change is expected to take effect at the opening of business on September 20, 2023.
September 01, 2023 | 9:34 am
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NEUTRAL IMPACT
LIZHI's planned change in ADS to Class A shares ratio may impact the trading price of its ADSs. The change, equivalent to a one-for-ten reverse ADS split, is expected to take effect on September 20, 2023.
The planned change in ADS to Class A shares ratio by LIZHI is equivalent to a one-for-ten reverse ADS split. This could potentially impact the trading price of its ADSs. However, the exact impact on the stock price is uncertain and will depend on various market factors at the time of the change.
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