Core Viewpoint - Concord Medical Services Holdings Limited plans to change the ratio of its American depositary shares (ADSs) to Class A ordinary shares from 1 ADS representing 3 Class A shares to 1 ADS representing 30 Class A shares, effective July 30, 2024 [1][2] Group 1: ADS Ratio Change - The change in the ADS Ratio will be equivalent to a one-for-ten reverse ADS split, requiring ADS holders to exchange every 10 existing ADSs for 1 new ADS [1] - No fractional new ADSs will be issued; instead, fractional entitlements will be aggregated and sold, with net cash proceeds distributed to ADS holders [2] - The change in the ADS Ratio is expected to increase the ADS trading price proportionally, although no assurance can be given regarding the exact price post-change [2] Group 2: Company Overview - Concord Medical is a healthcare provider specializing in a full cycle of oncology services, including cancer diagnosis, treatment, education, and prevention [3] - The company aims to enhance the quality and accessibility of cancer care through its network of self-owned and partnered hospitals across China [3] - Concord Healthcare, a subsidiary, provides oncology healthcare services and medical equipment to both self-owned and third-party medical institutions [4]
CONCORD MEDICAL ANNOUNCES PLAN TO IMPLEMENT ADS RATIO CHANGE