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17 Education & Technology Group Inc (NASDAQ:YQ) shares are trading lower at $1.56 following a change of the ratio of its American Depositary Shares (ADSs) to its Class A ordinary shares.
The former ratio of 1 ADS to 10 Class A ordinary shares shifted to a new ratio of 1 ADS to 50 Class A ordinary shares around December 18, 2023.
For ADS holders, this change mirrors a one-for-five reverse ADS split, where every 5 ADSs held will be exchanged for 1 new ADS.
No fractional new ADSs will be issued; instead, fractional entitlements will be sold, and the resulting cash proceeds (after deductions) will be given to applicable ADS holders.
See Also: Why U.S. Steel Shares Are Soaring Today
According to data from Benzinga Pro, YQ has a 52-week high of $11.85 and a 52-week low of $1.65.
Posted In: YQ
