- RISE Education Cayman Ltd (NASDAQ:REDU) has put forth its plan to change the number of shares represented by each American Depositary Share (ADS) from two shares per ADS to ten shares per ADS.
- The ratio change is expected to be effective from June 10, 2022.
- ADS holders will be required to exchange their existing ADS for new ADS on the basis of one new ADS for every five existing ADSs surrendered.
- The ratio change is expected to have the same effect as a one-for-five reverse split on the existing ADSs.
- Price Action: REDU shares are trading higher by 1.46% at $1.39 on the last check Wednesday.
