NaaS Technology (NAAS) has released an update.
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NaaS Technology Inc., a trailblazer in China’s EV charging service market, has announced a significant adjustment of its ADS Ratio from one ADS representing 10 Class A ordinary shares to one ADS for 200 Class A shares, akin to a 1-for-20 reverse split, effective around June 10, 2024. This strategic move is aimed at boosting the per-ADS trading price on the Nasdaq, with the company cautioning that the post-adjustment trading price may not necessarily be 20 times higher than the pre-adjustment price. Shareholders will be required to exchange their ADSs accordingly, with fractional shares to be sold off and proceeds distributed.
For further insights into NAAS stock, check out TipRanks’ Stock Analysis page.
