NaaS Technology | 6-K: NaaS Technology Inc. Announces Completion of ADS Ratio Change
NaaS Technology | 6-K: NaaS Technology Inc. Announces Completion of ADS Ratio Change
能鏈智電 | 6-K:能鏈智電宣佈完成ADS比率變更
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NaaS Technology announced the completion of its ADS ratio change on June 13, 2024, adjusting from one ADS representing 10 Class A ordinary shares to one ADS representing 200 Class A ordinary shares. This change effectively implemented a one-for-twenty reverse ADS split, with JPMorgan Chase Bank automatically exchanging one new ADS for every 20 previously-held ADSs.Concurrently, the company received a notice from Nasdaq indicating non-compliance with the minimum bid price requirement of $1.00 per share, as its ADS closing price remained below this threshold for 30 consecutive business days. NaaS expects to regain compliance within the 180-day grace period due to the ADS ratio adjustment, though this cannot be guaranteed.