JMU Announces ADS Ratio Change
PR Newswire
PR NewswireAugust 1, 2018, 12:00 PM GMT
SHANGHAI, Aug. 1, 2018 /PRNewswire/ -- JMU Limited (the "Company" or JMU") (NASDAQ: JMU), a leading B2B online e-commerce platform that provides integrated services to suppliers and customers in the foodservice industry in China, today announced that it has changed the ratio of its American depositary shares ("ADSs") to ordinary shares, par value US$0.00001 per share, from one (1) ADS representing eighteen (18) ordinary shares to one (1) ADS representing one hundred and eighty (180) ordinary shares, effective on July 31, 2018.
For JMU's ADS holders, this ratio change has the same effect as a one-for-ten reverse ADS split. Each JMU's ADS holder of record is required to exchange every ten (10) ADSs then held for one (1) new ADS. There is no change to JMU's underlying ordinary shares, and JMU's ADS will continue to trade on NASDAQ under the symbol "JMU."
This ratio change increases the market price per ADS of the Company, helping the Company to regain compliance with NASDAQ minimum bid price listing requirement.
