Fangdd Network Provides Update On Substitution Listing Plan; ADSs To Be Exchanged For Class A Ordinary Shares Trading On Nasdaq Under "DUO," With Timing Of Mandatory Exchange Still Pending
Portfolio Pulse from Benzinga Newsdesk
Fangdd Network announced an update on its substitution listing plan, where its ADSs will be exchanged for Class A ordinary shares trading on Nasdaq under the symbol 'DUO'. The timing for this mandatory exchange is still pending.
September 04, 2024 | 12:38 pm
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Fangdd Network's ADSs will be exchanged for Class A ordinary shares trading on Nasdaq under the symbol 'DUO'. The timing for this mandatory exchange is still pending.
The announcement of the substitution listing plan indicates a structural change in how Fangdd Network's shares are traded. However, the lack of a specific timeline for the exchange introduces uncertainty, leading to a neutral short-term impact on the stock price.
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