AMTD IDEA Group, formerly known as AMTD International (NYSE:AMTD) Inc., and listed on the New York Stock Exchange under "NYSE:AMTD", has announced a revision in its American depositary shares (ADSs) to Class A ordinary shares ratio. The adjustment, which is set to become effective on November 17, 2023, U.S. Eastern Time, will see the ratio change from one-to-two to one-to-six. This alteration equates to a one-for-three reverse ADS split, necessitating holders to exchange three of their old ADSs for a new one.
The swap process will be supervised by The Bank of New York Mellon (NYSE:BK), in cases where the exchange results in fractional entitlements, these will be sold, and the proceeds distributed to the holders. It's important to note that this change does not impact the underlying Class A ordinary shares and no issuance or cancellation of these shares will occur as a result of this modification.
AMTD IDEA Group stands as a comprehensive business service provider and its global connector "AMTD SpiderNet" ecosystem will continue its operations uninterrupted. The announcement was made via Business Wire and includes a Safe Harbor Statement with forward-looking statements.
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