Fang Announces ADS Ratio Change
For Fang's ADS holders, this ratio change will have the same effect as a 1-for-5 reverse ADS split. There will be no change to Fang's Class A ordinary shares. Furthermore, no physical action by ADS holders will be required to effect the ratio change, as the change will be effected on the books of the depositary. The effect of the ratio change on the ADS trading price on
As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, although Fang can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than five times the ADS price before the change.
Fang operates a leading real estate Internet portal in
Safe Harbor Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995.
These forward-looking statements can be identified by terminology such as "will," "expects," "is expected to," "anticipates," "aim," "future," "intends," "plans," "believes," "are likely to," "estimates," "may," "should" and similar expressions. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond Fang's control, which may cause its actual results, performance or achievements to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, without limitation, the impact of Fang's transformation back to a technology-driven Internet platform and the impact of current and future government policies affecting
View original content:http://www.prnewswire.com/news-releases/fang-announces-ads-ratio-change-300875034.html
Mr. Zijin Li, Acting CFO, Phone: +86-10-5631 8805; Ms. Jessie Yang, Investor Relations Director, Phone: +86-10-5631 8805