Sify Technologies Announces ADS Ratio Change to 1 ADS Representing 6 Equity Shares, Effective October 4, 2024
Portfolio Pulse from Benzinga Newsdesk
Sify Technologies has announced a change in the ratio of its American Depositary Shares (ADS) from 1 ADS representing 1 equity share to 1 ADS representing 6 equity shares, effective October 4, 2024.
September 18, 2024 | 2:55 pm
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NEUTRAL IMPACT
Sify Technologies is altering its ADS ratio from 1:1 to 1:6, which may affect the liquidity and trading volume of its ADS in the US market.
The change in ADS ratio means each ADS will now represent 6 equity shares instead of 1. This could affect the liquidity and trading volume of Sify's ADS in the US market, as investors may need to adjust their holdings. However, the fundamental value of the company remains unchanged, leading to a neutral short-term impact.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100