Summary by Moomoo AI
Digital Domain Group Limited ("Digital Domain") announced that it has partnered with Bank of New York Mellon to establish a Level 1 American Depositary Receipt Program. This program allows American Depositary Receipts to be listed and traded on the Main Board of The Stock Exchange of Hong Kong Limited, with each American Depositary Share representing five hundred ordinary shares of the company. Holders of American Depositary Shares will enjoy the same dividends, distribution rights, and voting rights as ordinary shareholders. The program aims to increase the liquidity of Digital Domain shares in the USA and provide a gateway to access the USA capital markets, it is not a new stock offering and will not directly benefit the company. The board of directors believes that this move will enter the USA market at the lowest financial cost. The program has registered 300,000,000 American Depositary Shares. The announcement date is November 11, 2024.