Gridlink Hui October 9th | Dowway (08403.HK) announced that the company has established a US depositary receipt program and appointed Bank of New York Mellon ("Bank of New York Mellon") as the depositary bank, effective as of October 7, 2024 (US Eastern Standard Time).
Each American depositary share ("American Depositary Share") represents 50 shares of common stock of the company held by the Hong Kong depositary bank and kept by it. American Depositary Shares will be traded on the US OTC market with the code "DOWAY" on a later date after the opening of the program.
American Depositary Shares are issued in accordance with the terms and conditions set forth in the deposit agreements entered into by Bank of New York Mellon (as depositary bank) with the company and the owners and holders of American Depositary Shares issued under the program from time to time. The holders and holders of American Depositary Shares will not have direct shareholder rights; the rights of American Depositary Shareholders, including dividends, distributions, and voting rights, are subject to the terms and conditions of the deposit agreement.
