Fangdd Network Group Ltd. Announces Its ADSs Will Be Delisted From Nasdaq And Immediately Substituted With Class A Ordinary Shares For Trading On September 30, 2024, Involving A Mandatory Exchange Of All ADSs Into Ordinary Shares
Portfolio Pulse from Benzinga Newsdesk
Fangdd Network Group Ltd. (NASDAQ:DUO) will delist its ADSs from Nasdaq and replace them with Class A ordinary shares for trading on September 30, 2024. This involves a mandatory exchange of all ADSs into ordinary shares.
September 18, 2024 | 12:18 pm
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Fangdd Network Group Ltd. will delist its ADSs from Nasdaq and replace them with Class A ordinary shares on September 30, 2024. This involves a mandatory exchange of all ADSs into ordinary shares.
The delisting of ADSs and substitution with Class A ordinary shares is a significant corporate action. However, since each ADS represents one Class A ordinary share, the fundamental value for shareholders remains unchanged. The impact on stock price is likely neutral in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100