Concord Medical Services (CCM) has released an update.
Concord Medical Services Holdings Limited, a leading Chinese cancer care provider, has announced a significant change to its ADS (American depositary shares) structure, effectively conducting a one-for-ten reverse ADS split, set to take place on July 30, 2024. This adjustment aims to increase the trading price of their ADSs on the New York Stock Exchange, although the company notes that actual price outcomes cannot be guaranteed. The restructuring will not affect the company’s underlying Class A ordinary shares or result in the issuance or cancellation of any such shares.
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