NaaS Technology (NAAS) has released an update.
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NaaS Technology Inc., China’s first U.S. listed EV charging service company, has announced the successful completion of an ADS Ratio change, effectively executing a reverse split that consolidates 20 old ADS into 1 new ADS. This action, which was automatically applied with JPMorgan Chase Bank overseeing the process, is expected to boost the ADS trading price and assist the company in meeting Nasdaq’s minimum bid price requirement. The company aims to achieve compliance within Nasdaq’s set 180-day grace period, although future compliance cannot be guaranteed.
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