Sequans Communications S.A. announced on September 4, 2025, that its Board of Directors approved a plan to change the ratio of its American Depositary Shares (ADSs) to its ordinary shares. The new ratio will be one ADS to one hundred ordinary shares, a change from the previous one ADS to ten ordinary shares.
This ADS ratio change will have the same effect as a one-for-ten reverse ADS split for current ADS holders. The change is scheduled to be effective prior to the commencement of trading on the New York Stock Exchange on September 17, 2025.
The primary objectives of this change are to regain compliance with NYSE listing standards and to appeal to a larger institutional investor base. While the trading price per ADS is expected to increase proportionally, the company cannot assure that the price will be ten times greater than before the change.
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