On November 11, Digital Kingdom (00547.HK) announced that the company and Bank of New York Mellon (Bank of New York Mellon) have set up a plan to sponsor Tier 1 American Depositary Securities (“American Depositary Securities”). An American ADR is a type of share-like transferable security issued by a depository bank of the United States of America as a certificate of one or more American Depositary Shares (“American Depositary Shares”). Each ADR share is equivalent to five hundred (500) shares of the Company's common stock.
According to the company's adoption of the plan, American ADR securities will be traded on the main board of the Hong Kong Stock Exchange Limited and issued as common stock in the escrow bank under the plan.
