Xylo Technologies Announces Plan To Implement ADS Ratio Change On The Basis Of 1 New ADS For Every 2.666666 Old ADSs Held; Ordinary Shares Of The Co Represented By Each ADS, Will Be Changed From 15 Ordinary Shares To 40 Ordinary Shares
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Xylo Technologies Ltd. (NASDAQ:XYLO) announced a reverse split of its American Depositary Shares (ADS) on a 1-for-2.666666 basis, changing the number of ordinary shares represented by each ADS from 15 to 40. The effective date is August 5, 2024.
July 30, 2024 | 8:14 pm
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Xylo Technologies Ltd. (NASDAQ:XYLO) is implementing a reverse split of its ADS on a 1-for-2.666666 basis, changing the number of ordinary shares per ADS from 15 to 40. This change is effective August 5, 2024.
The reverse split of ADSs will consolidate the number of shares, which may initially cause some volatility in the stock price. However, the fundamental value of the company remains unchanged. Investors may see this as a neutral event in the short term.
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