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Kitov Pharma announces ADS ratio change

Aug. 13, 2020 9:36 AM ETPurple Biotech Ltd. (PPBT) StockPPBTBy: Pranav Ghumatkar, SA News Editor3 Comments
  • Kitov Pharma (NASDAQ:KTOV) has changed the ratio of its ADSs to ordinary shares from 1 ADS representing 1 ordinary share to a new ratio of 1 ADS representing 10 ordinary shares.
  • The ratio change will be effective at the beginning of trading on August 21.
  • For ADS holders, the ratio change will have the same effect as a 1/10 reverse ADS split.
  • The ADS ratio change was to enable the Company to regain its compliance as per Nasdaq listing rule.

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