Mercurity fintech holding inc. announces updates to holders of adrs regarding termination of adr facility
New york, jan. 27, 2023 (globe newswire) -- mercurity fintech holding inc. (the “company,” “we,” “us,” “our company,” or “mfh”) (nasdaq: mfh), a digital fintech group powered by blockchain technology, announced today that the board of directors of the company (the “board”) approved to reverse the decision on the adr ratio change (as defined below) and maintain the current adr to ordinary share ratio at 1-to-360 until the cancellation of the adr facility. previously, the board approved the proposals of the share consolidation to the authorized share capital (the “share consolidation”) at a ratio of one (1)-for-four hundred (400), with the par value of each ordinary share changed to us$0.004 per ordinary share, a mandatory exchange (the “mandatory exchange”) of all the adrs to ordinary shares at the current adr exchange ratio, and in connection therewith the company will simultaneously change the adr to ordinary share ratio from one (1)-to-three hundred and sixty (360) to one (1)-to-one (1) (the “adr ratio change”). today, the board approved to reverse the decision on the adr ratio change because such change will not be necessary for the company's efforts on the termination of the adr facility and share consolidation.
MFH Ratings Summary
MFH Quant Ranking
You've reached your free article limit.
Want To Read More Articles?
See what it all means for your stocks with premium tools
Stockprices is a weekly video covering what moved markets
this week, featuring a panel of Stockprices editors. It is published by the
close of trading on Fridays. Hosted by Nathaniel E. Baker, contributing editor,
and featuring: Aaron Task, VP Contributor Content and co-host Stockprices's Alpha
Trader podcast; Brad Olesen, VP News; Steve Alpher, Managing Editor News, co-host
Alpha Trader.
Unsubscribe From All
You successfully activated
“Only Essentials”
Confirm Upgrade
Your subscription will be moved to the annual plan. Service will automatically renew unless cancelled. No Refunds. Click upgrade to confirm.
Stockprices uses Plaid to connect you account
Connect effortlessly
Plaid lets you securely connect your financial accounts in seconds
Your data belongs to you
Plaid doesn't sell personal info, and will only use it with your permission