NaaS (NAAS) announced that that it plans to change the ratio of its American Depositary Shares to its Class A ordinary shares, par value $0.01 per share, from the current ADS Ratio of one ADS to 800 Class A ordinary shares to a new ADS Ratio of one ADS to 3,200 Class A ordinary shares. For the company’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-four reverse ADS split. A post-effective amendment to the ADS Registration Statement on Form F-6 will be filed with the SEC to reflect the change in the ADS Ratio. The company anticipates that the change in the ADS Ratio will be effective on or about July 30.
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