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SHANGHAI - Chinese pet products platform Boqii Holding Limited (NYSE American:BQ) completed its transition from American Depositary Shares to direct listing of Class A ordinary shares on the NYSE American exchange on Friday, the company announced in a press release. The stock, currently trading at $2.45, has shown strong momentum with a 7% gain over the past week, though InvestingPro data shows significant volatility in recent months.
The company implemented a 1-for-160 reverse stock split, consolidating its existing Class A ordinary shares with a par value of $0.001 each into new ordinary shares with a par value of $0.16. As part of this process, Boqii’s previously outstanding ADSs were automatically cancelled and exchanged for new ordinary shares at a rate of 0.9375 of a new share for each ADS cancelled.
The new ordinary shares began trading on NYSE American under the same "BQ" symbol on July 11, 2025, with a new CUSIP number of G1311F119. All fractional shares resulting from the conversion were rounded up to the nearest whole number.
Boqii, which describes itself as a leading pet-focused platform in China, offers pet products through its online Boqii Mall and flagship stores on third-party e-commerce platforms. The company’s product lineup includes global brands, local emerging brands, and its own private labels Yoken, Mocare and D-cat.
The company had previously announced the planned substitution listing and reverse stock split before implementing the changes on the effective date.
In other recent news, Boqii Holding Limited announced significant changes to its stock structure, including the termination of its American Depositary Shares (ADS) program and a 1-for-160 reverse stock split. This restructuring will see the company’s Class A ordinary shares listed directly on the NYSE American under the symbol "BQ," replacing the ADS listing. As part of this transition, Boqii shareholders approved the termination of the Deposit Agreement with The Bank of New York Mellon, and VStock Transfer, LLC has been appointed as the new U.S. transfer agent. The reverse stock split will consolidate every 160 ordinary shares into one new ordinary share. Additionally, Boqii has called for an Extraordinary General Meeting of Shareholders to address undisclosed matters requiring shareholder approval, emphasizing its commitment to corporate governance. The company has not specified the exact date these changes will take effect, stating only that the termination will occur "in the near future." Investors are encouraged to review the SEC filing materials to prepare for the forthcoming meeting. These developments reflect Boqii’s strategic efforts to streamline its stock structure and engage shareholders in important decisions.
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