Zhihu plans to implement ADS ratio change

Zhihu announced that it plans to change the ratio of its American depositary shares to its Class A ordinary shares, par value $0.0001 per share, from the current ratio of two ADSs representing one Class A ordinary share to a new ratio of one ADS representing three Class A ordinary shares, effective on or about May 10, U.S. Eastern Time. For the company’s ADS holders, the ADS Ratio Change will have the same effect as a one-for-six reverse ADS split. Upon the Effective Date, ADS holders will be required to surrender and exchange every six existing ADSs then held for one new ADS. JPMorgan Chase Bank, N.A., as the depositary bank for the company’s ADS program, will arrange for the exchange. The company’s ADSs will continue to be traded on the New York Stock Exchange under the ticker symbol “ZH.”