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AIFU Inc. (02 Finance), an insurance brokerage firm, has officially terminated its American Depositary Receipts (ADR) facility and ceased trading of its American Depositary Shares (ADSs) on the Nasdaq Stock Market as of Monday. Following this termination, the company has executed a reverse stock split, consolidating every 400 ordinary shares into one new ordinary share.
The reverse split took effect today, with the company’s Class A ordinary shares expected to begin trading on Nasdaq under the ticker symbol "AIFU". As a result of the consolidation, the total number of the company’s outstanding ordinary shares will decrease by a factor of 400. This action is anticipated to proportionally increase the trading price of AIFU Inc.’s shares. The new International Securities Identification Number (ISIN) for the company’s Class A ordinary shares is KYG3314G1102, and the new Committee on Uniform Securities Identification Procedures (CUSIP) number is G3314G110.
For former holders of AIFU Inc.’s ADSs, the reverse split equates to receiving one new Class A ordinary share for every twenty ADSs they previously owned. The company’s move to consolidate shares follows the termination of its ADR facility, a process that affects shareholders by altering the number of shares held and potentially the value of their investment.
The information in this article is based on a press release statement filed with the Securities and Exchange Commission.
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