EU and US could reach trade deal this weekend - Reuters
Investing.com -- Shares of Oatly (NASDAQ:OTLY), the Swedish plant-based milk producer, experienced a significant drop following their announcement of plans to change the ratio of their American Depositary Receipts (ADR).
The company intends to implement a new ADR ratio where one ADR will represent twenty ordinary shares. Previously, one ADR represented a single ordinary share.
This adjustment is equivalent to a one-for-twenty reverse ADR split. The change is scheduled to take effect at the start of business on Feb. 18.
Despite the alteration in the ADR ratio, Oatly’s ADRs will continue to be traded on the Nasdaq Global Select Market under the ticker symbol "OTLY."
The announcement of this change has had a direct impact on Oatly’s share price, which has seen a fall of as much as 25%.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.