NaaS Technology Finalizes ADS Ratio Change

April 29, 2025 | 15:38

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The move reflects ongoing efforts to optimize shareholder value and align with global trading dynamics.

BEIJING, April 29, 2025 /PRNewswire/ -- NaaS Technology Inc. (Nasdaq: NAAS) ("NaaS" or the "Company"), the first U.S.-listed EV charging service company in China, today announces that the previously announced change of the ratio (the "ADS Ratio") of its American depositary shares (the "ADSs") to its Class A ordinary shares has taken effect at the open of business on April 28, 2025 (U.S. Eastern Time) ("Effective Date").

The change in the ADS Ratio, from one ADS to 200 Class A ordinary shares to one ADS to 800 Class A ordinary shares, had the same effect as a one-for-four reverse ADS split. The exchange of one new ADS for every 4 previously-held ADSs occurred automatically upon effectiveness, with the previously-held ADSs cancelled and the new ADSs issued by JPMorgan Chase Bank, N.A., the depositary bank for the Company's ADS program.

As a result of the change in the ADS Ratio, the ADS trading price is expected to increase proportionally, although the Company can give no assurance that the ADS trading price after the change in the ADS Ratio will be proportionally equal to or greater than 4 times the ADS trading price before the change.

By PR Newswire

NaaS Technology Inc.

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