Fangdd Network Group Announces The Company And The Bank Of New York Mellon Intend To Terminate The Deposit Agreement, Dated October 31, 2019 As The Depositary For The Company's ADS, And Owners And Holders Of ADSs. As A Result, The Co's Existing ADRs Facility Is Expected To Be Terminated At 5:00 P.M. On September 4, 2024
Portfolio Pulse from Benzinga Newsdesk
Fangdd Network Group Ltd. (NASDAQ:DUO) and The Bank of New York Mellon plan to terminate their Deposit Agreement, leading to the termination of FangDD's ADR facility on September 4, 2024. Following this, FangDD will list its Class A ordinary shares on Nasdaq under the same symbol 'DUO'.
June 03, 2024 | 12:45 pm
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Fangdd Network Group Ltd. (NASDAQ:DUO) will terminate its ADR facility on September 4, 2024, and subsequently list its Class A ordinary shares on Nasdaq under the same symbol 'DUO'.
The termination of the ADR facility and the subsequent listing of Class A ordinary shares on Nasdaq is a significant corporate action. However, since the shares will continue to trade under the same symbol 'DUO', the immediate impact on the stock price is expected to be neutral.
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