China TechFaith Wireless Communication Technology Limited, the developer, owner and operator of commercial real estate properties across China and China-based mobile solutions provider for the global mobile handsets market, announced that it will change the ratio of its American Depositary Shares to ordinary shares, par value US$0.01 per share. The change from 1 ADS to 15 ordinary shares to 1 ADS to 75 ordinary shares will be effective on March 1, 2016.
No new shares will be issued as a result of the ratio change, and company’s ADS will continue to be traded on the NASDAQ stock exchange. After the ratio change, the ADS price is expected to automatically increase proportionally. It will assist TechFaith in regaining compliance with the minimum bid price continued listing requirement of the NASDAQ Stock Market.