Addex Therapeutics shares are trading lower after the company announced its plan to change the ratio of its American Depositary Shares from an ADS ratio of 1 to 6 to an ADS Ratio of 1 to 120
Portfolio Pulse from Benzinga Newsdesk
Addex Therapeutics announced its plan to change the ratio of its American Depositary Shares (ADS) from 1 to 6 to an ADS Ratio of 1 to 120, causing its shares to trade lower.
October 09, 2023 | 2:28 pm
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NEGATIVE IMPACT
Addex Therapeutics' decision to change its ADS ratio has led to a decrease in its share price.
The change in the ADS ratio means that each ADS will represent more shares than before, which can lead to a decrease in the price per ADS. This is likely the reason for the decrease in Addex Therapeutics' share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100