Uxin Limited (NASDAQ:UXIN) today announced that it plans to change the ratio of its American Depositary Shares (“ADSs”) to Class A ordinary shares from one (1) ADS representing three (3) Class A ordinary shares to one (1) ADS representing thirty (30) Class A ordinary shares.
This ratio change will have the same effect as a one-for-ten reverse ADS split for Uxin’s ADSs holders. There will be no change to Uxin’s underlying Class A ordinary shares, and no Class A ordinary shares will be issued or cancelled in connection with this ratio change. No action is required by holders of ADSs to effect the ratio change, as the change will be effected on the books of the ADS depositary. Following the ratio change, Uxin’s ADSs will continue to be traded on the Nasdaq Global Select Market under the ticker symbol “UXIN.”
The effect of the ratio change on the ADS trading price on the Nasdaq Global Select Market is expected to take place at the open of business on October 28, 2022. As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than 10 times the ADS price before the change. Â
