American depositary receipt

Citi Appointed as Depositary Bank for Freeline’s ADR Programme

Friday, August 14, 2020 - 4:40pm

Citi, acting through Citibank N.A., has been appointed by Freeline Therapeutics Holdings plc (Freeline), a clinical-stage gene therapy company, to act as depositary bank for its American Depositary Receipt (ADR) programme.

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MXIM, DCOM, and GRUB SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Reminds Investors of Investigations of Mergers

Friday, August 14, 2020 - 2:00am

To learn more about this investigation and your rights, visit: https://www.rigrodskylong.com/cases-maxim-integrated-products-inc .

Key Points: 
  • To learn more about this investigation and your rights, visit: https://www.rigrodskylong.com/cases-maxim-integrated-products-inc .
  • Grubhub, Inc. (NYSE: GRUB ) regarding possible breaches of fiduciary duties and other violations of law related to Grubhubs agreement to be acquired by Just Eat Takeaway.com N.V. (Just Eat).
  • Shareholders of Grubhub will receive American depository receipts (ADRs), representing 0.6710 Just Eat ordinary shares for each share of Grubhub owned.
  • If you would like to discuss any of these investigations and your rights cost and obligation free, please contact Seth D. Rigrodsky or Gina M. Serra toll-free at (888) 969-4242 or by e-mail at info@rl-legal.com .

OneConnect Announces Pricing of Follow-on Public Offering of American Depositary Shares

Thursday, August 13, 2020 - 6:07am

OneConnect Financial Technology Co., Ltd. (OneConnect or the Company) (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions in China, today announced the pricing of the public offering (the Offering) of 18,000,000 American Depositary Shares (ADSs) by the Company, each represents three ordinary shares of the Company at a public offering price of US$18.00 per ADS.

Key Points: 
  • OneConnect Financial Technology Co., Ltd. (OneConnect or the Company) (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions in China, today announced the pricing of the public offering (the Offering) of 18,000,000 American Depositary Shares (ADSs) by the Company, each represents three ordinary shares of the Company at a public offering price of US$18.00 per ADS.
  • The underwriters will have a 30-day option to purchase up to an aggregate of 2,700,000 additional ADSs from the Company.
  • Goldman Sachs (Asia) L.L.C., Morgan Stanley & Co. LLC and China PA Securities (Hong Kong) Company Limited are acting as joint bookrunners for the Offering.
  • The Offering is being made only by means of a prospectus forming part of the effective registration statement.

Kitov Pharma Announces ADS Ratio Change

Wednesday, August 12, 2020 - 9:56pm

TEL AVIV, Israel, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Kitov Pharma Ltd. (Kitov) (NASDAQ/TASE: KTOV), a clinical-stage company advancing first-in-class therapies to overcome tumor immune evasion and drug resistance, announced today that the Company will change the ratio of its American Depositary Shares (ADSs) to ordinary shares from one (1) ADS representing one (1) ordinary shares to a new ratio of one (1) ADS representing ten (10) ordinary shares.

Key Points: 
  • TEL AVIV, Israel, Aug. 12, 2020 (GLOBE NEWSWIRE) -- Kitov Pharma Ltd. (Kitov) (NASDAQ/TASE: KTOV), a clinical-stage company advancing first-in-class therapies to overcome tumor immune evasion and drug resistance, announced today that the Company will change the ratio of its American Depositary Shares (ADSs) to ordinary shares from one (1) ADS representing one (1) ordinary shares to a new ratio of one (1) ADS representing ten (10) ordinary shares.
  • For ADS holders, the ratio change will have the same effect as a one-for-ten reverse ADS split.
  • No fractional new ADSs will be issued in connection with the change in the ADS ratio.
  • As a result of the change in the ADS ratio, the ADS price is expected to increase proportionally, enhancing the suitability of the ADSs for trading on the Nasdaq Capital Market, although the Company can give no assurance that the ADS price after the change in the ADS ratio will be equal to or greater than ten times the ADS price before the change.

Bragar Eagel & Squire, P.C. Reminds Investors That Class Action Lawsuits Have Been Filed Against GEO Group, Wirecard, J2 Global, and Verrica Pharmaceuticals and Encourages Investors to Contact the Firm

Wednesday, August 12, 2020 - 10:00pm

On June 17, 2020, The Intercept published an article entitled GEO Groups Blundering Response to the Pandemic Helped Spread Coronavirus in Halfway Houses.

Key Points: 
  • On June 17, 2020, The Intercept published an article entitled GEO Groups Blundering Response to the Pandemic Helped Spread Coronavirus in Halfway Houses.
  • On this news, GEO Groups stock price fell $1.03 per share, or 7.8%, to close at $12.17 per share on June 17, 2020.
  • Following the Companys announcement, Wirecards American depositary receipts (ADRs) fell$38.30per ADR, or 65.47%, to close at$20.20per ADR onJune 18, 2020.
  • For more information on the Verrica class action go to: https://bespc.com/VRCA
    About Bragar Eagel & Squire, P.C.

FinVolution Group Chairman Continues to Purchase Company Shares

Tuesday, August 11, 2020 - 11:00am

SHANGHAI, Aug.11, 2020 /PRNewswire/ -- FinVolution Group ("FinVolution", or the "Company") (NYSE: FINV), a leading fintech platform in China, today announced that Mr. Shaofeng Gu, Chairman and Chief Innovation Officer of the Company has informed the Company that he has continued to purchase in his personal capacity 1.46 million of the Company's American Depositary Shares in the second quarter of 2020.

Key Points: 
  • SHANGHAI, Aug.11, 2020 /PRNewswire/ -- FinVolution Group ("FinVolution", or the "Company") (NYSE: FINV), a leading fintech platform in China, today announced that Mr. Shaofeng Gu, Chairman and Chief Innovation Officer of the Company has informed the Company that he has continued to purchase in his personal capacity 1.46 million of the Company's American Depositary Shares in the second quarter of 2020.
  • The purchases were made during an open window period and in full compliance with all company and legal guidelines.
  • As of June 30, 2020, Mr. Shaofeng Gu beneficially owned 412,257,375 ordinary shares, representing approximately 27.7% of ownership in the Company.
  • FinVolution Group is a leading fintech platform in China connecting underserved individual borrowers with financial institutions.

OneConnect Financial Technology Co., Ltd. Announces Proposed Follow-on Public Offering of American Depositary Shares

Monday, August 10, 2020 - 9:54pm

OneConnect Financial Technology Co., Ltd. (OneConnect or the Company) (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions in China, today announced that it filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the SEC) relating to a follow-on public offering (the Offering) of 16,500,000 American Depositary Shares (ADSs), each represents three ordinary shares of the Company.

Key Points: 
  • OneConnect Financial Technology Co., Ltd. (OneConnect or the Company) (NYSE: OCFT), a leading technology-as-a-service platform for financial institutions in China, today announced that it filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission (the SEC) relating to a follow-on public offering (the Offering) of 16,500,000 American Depositary Shares (ADSs), each represents three ordinary shares of the Company.
  • The Company expects to use the net proceeds from the Offering for enhancement of its platform and technology capabilities, international expansion and strategic investments and general corporate purposes.
  • The Offering will be made only by means of a prospectus forming part of the effective registration statement.
  • The Companys platform provides cloud-native technology solutions that integrate extensive financial services industry expertise with market-leading technology.

INVESTIGATION REMINDER: The Schall Law Firm Announces it is Investigating Claims Against 36Kr Holdings Inc. and Encourages Investors with Losses of $100,000 to Contact the Firm

Monday, August 10, 2020 - 6:42pm

The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of 36Kr Holdings Inc. (36Kr or the Company) (NASDAQ: KRKR ) for violations of the securities laws.

Key Points: 
  • The Schall Law Firm , a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of 36Kr Holdings Inc. (36Kr or the Company) (NASDAQ: KRKR ) for violations of the securities laws.
  • The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
  • 36Kr commenced its initial public offering (IPO) on November 8, 2019, selling approximately 1.4 million American depositary shares (ADSs) at $14.50 per ADS.
  • The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

Hexindai Announces ADS Ratio Change

Monday, August 10, 2020 - 12:30pm

BEIJING, Aug. 10, 2020 /PRNewswire/ -- Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company"), a mobile e-commerce and consumer finance platform in China, today announced that the ratio of American depositary share ("ADS") representing its ordinary shares ("ADS Ratio") is being amended from one (1)ADS representing one (1) ordinary share to one (1)ADS representing three (3)ordinary shares.

Key Points: 
  • BEIJING, Aug. 10, 2020 /PRNewswire/ -- Hexindai Inc. (NASDAQ: HX) ("Hexindai" or the "Company"), a mobile e-commerce and consumer finance platform in China, today announced that the ratio of American depositary share ("ADS") representing its ordinary shares ("ADS Ratio") is being amended from one (1)ADS representing one (1) ordinary share to one (1)ADS representing three (3)ordinary shares.
  • Furthermore, no physical action by ADS holders will be required to effect the ratio change, as the change will be effected on the books of the depositary.
  • The effect of the ratio change on the ADS trading price on the NASDAQ Global Market is expected to take place at the open of business on August 24, 2020 (U.S. Eastern Time).
  • As a result of the change in the ADS Ratio, the ADS price is expected to increase proportionally, although Hexindai can give no assurance that the ADS price after the change in the ADS Ratio will be equal to or greater than three times the ADS price before the change.

Velocity Financial, Inc. Class Action Alert: Wolf Haldenstein Adler Freeman & Herz LLP Investigates Velocity Financial, Inc. for Violations of the Federal Securities Laws

Friday, August 7, 2020 - 9:00pm

All investors who purchased American Depositary Shares (ADSs) of Velocity Financial, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.

Key Points: 
  • All investors who purchased American Depositary Shares (ADSs) of Velocity Financial, Inc. and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
  • On January 22, 2020, Velocity sold 7,250,000 shares of stock in its initial public stock offering at $13.00 per share, raising $94,250,000 in new capital.
  • On this news, Velocity's share price fell more than 80%, to close at just $2.53 per share on May 15, 2020.
  • Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country.