Jianzhi Education Announces Plan To Implement ADS Ratio Change From 1 ADS-For-2 ADS To 1 ADS-For-6 ADS
Portfolio Pulse from Benzinga Newsdesk
Jianzhi Education Technology Group Company Limited (JZ) announced a change in its ADS ratio from 1 ADS representing 2 ordinary shares to 1 ADS representing 6 ordinary shares, effective around February 20, 2024. This adjustment will act similarly to a one-for-three reverse ADS split for Jianzhi's ADS holders. The change aims to increase the trading price of Jianzhi's ADSs on the Nasdaq, though there's no guarantee of the post-change price meeting expectations. No fractional new ADSs will be issued; instead, net cash proceeds from the sale of fractional entitlements will be distributed to the ADS holders.
February 16, 2024 | 1:37 pm
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Jianzhi Education's ADS ratio change is expected to act like a one-for-three reverse split, potentially increasing the trading price of its ADSs on the Nasdaq.
The ADS ratio change by Jianzhi Education is a strategic move aimed at increasing the trading price of its ADSs on the Nasdaq. This is expected to make the stock more appealing to investors by reducing the number of ADSs in circulation, thus potentially increasing the per ADS price. However, the actual impact on the stock price will depend on market reaction and other factors.
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