Gathering announced on Tuesday that the company plans to adjust its exchange ratio between American Depositary Shares (ADS) and Class A common shares.
Zhitong Finance App learned that YJ.US (YJ.US) announced on Tuesday that the company plans to adjust the exchange ratio between its American Depositary Shares (ADS) and Class A common shares. Currently, 1 ADS share corresponds to 100 Class A common shares, but the company plans to adjust this ratio to 1 ADS share corresponding to 400 Class A common shares. The change is expected to officially take effect around September 13th.
For concentrated ADS holders, this ratio adjustment will have the same effect as a reverse ADS split by four. As of press release, the US stock market fell more than 6% at the beginning of the session to $0.4201.
