Sify Technologies Ltd. Announces 1-For-6 ADS Ratio Change To Be Effective On October 4, 2024
Portfolio Pulse from Benzinga Newsdesk
Sify Technologies Ltd. announced a change in the ratio of its American Depositary Shares (ADS) from 1:1 to 1:6, effective October 4, 2024. This change is equivalent to a one-for-six reverse ADS split, impacting the number of ADSs but not the proportional equity interest of holders.
October 01, 2024 | 1:03 pm
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Sify Technologies is implementing a 1-for-6 reverse ADS split, changing the ADS to equity share ratio from 1:1 to 1:6. This will affect the number of ADSs but not the proportional equity interest of holders.
The 1-for-6 reverse ADS split will reduce the number of ADSs but maintain the same proportional equity interest for holders. This is a technical adjustment and does not affect the underlying value of the company, hence a neutral short-term impact on stock price.
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