Oatly Group AB announced its plan to change the ratio of its American Depositary Receipts (ADRs) to ordinary shares from one ADR representing one ordinary share to one ADR representing twenty ordinary shares. This change will have the same effect as a one-for-twenty reverse ADR split for current ADR holders.
The company clarified that there will be no alteration to Oatly’s underlying ordinary shares, and no ordinary shares will be issued or cancelled as a result of this ratio change. The adjustment is expected to affect the ADR trading price on the Nasdaq Global Select Market at the opening of business on February 18, 2025.
Following the ratio change, Oatly’s ADRs will continue to trade on the Nasdaq Global Select Market under the ticker symbol 'OTLY.' Fractional entitlements to new ADRs will not be issued; instead, they will be aggregated and sold by the depositary bank, with net cash proceeds distributed to applicable ADR holders.
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