Summary by Futu AI
Digital Domain Group Limited ("Digital Domain") announced that it has partnered with Bank of New York Mellon to establish a Level I American Depositary Receipt (ADR) program. This program allows ADRs to be listed and traded on the Main Board of The Stock Exchange of Hong Kong Limited, with each ADR representing 500 ordinary shares of the company. Holders of ADRs will enjoy the same dividends, distribution rights, and voting rights as ordinary shareholders. The program aims to increase the liquidity of Digital Domain's shares in the USA and provide access to the US capital markets. It is not an IPO and will not generate direct revenue for the company. The board of directors believes that this move will enter the US market at the lowest financial cost. The program has registered 300,000,000 ADRs. The announcement date is November 11, 2024.