04:20 PM EDT, 07/08/2024 (MT Newswires) -- Fresh2 Group ( FRES ) said Monday it is changing the ratio of its American depositary shares to its class A shares, which will have the effect of a 1-for-10 reverse ADS split.

The ratio change is effective Wednesday, the company added.

Each ADS will now represent 200 class A ordinary shares from one ADS per 20 shares before the ratio change, according to the company.

Fresh2 ( FRES ) will exchange 10 existing ADS for one new ADS on the effective date.

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