- RISE Education Cayman Ltd REDU has put forth its plan to change the number of shares represented by each American Depositary Share (ADS) from two shares per ADS to ten shares per ADS.
- The ratio change is expected to be effective from June 10, 2022.
- ADS holders will be required to exchange their existing ADS for new ADS on the basis of one new ADS for every five existing ADSs surrendered.
- The ratio change is expected to have the same effect as a one-for-five reverse split on the existing ADSs.
- Price Action: REDU shares are trading higher by 1.46% at $1.39 on the last check Wednesday.
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