08:37 AM EDT, 06/07/2024 (MT Newswires) -- NaaS Technology ( NAAS ) said Friday that the effective date for the change in its American Depositary Shares (ADS) to Class A ordinary shares ratio has been moved to June 13 from the previously announced date of June 10.

The ADS ratio will change from 1 ADS per 10 Class A ordinary shares to 1 ADS per 200 Class A ordinary shares, and will have the effect as a one-for-twenty reverse ADS split, the company said.

On the effective date, each holder must exchange every 20 existing ADSs for one new ADS.

Shares of the company were down 3.6% in Friday's premarket activity.

Price: 0.3801, Change: -0.01, Percent Change: -3.63