Paris, New York, and Singapore, October 6, 2026 / PRNewswire / -- AMTD IDEA Group (New York Stock Exchange ticker: AMTD; Singapore Exchange ticker: HKB) ("AMTD IDEA" or "the Company") today announced that it will adjust the ratio between its American Depository Receipts ("ADS") and Class A common shares ("ADS ratio adjustment"). The adjustment will be from 1 ADS representing 6 Class A common shares to 1 ADS representing 360 Class A common shares, with an effective date of around October 19, 2026 (Eastern Time, USA).
On July 8, 2026, the company received a notification from the New York Stock Exchange (“NYSE”) stating that as of July 7, 2026, the average closing price of the company’s ADS stock had been below $1.00 for 30 consecutive trading days, thereby not meeting the requirements of Section 802.01C of the NYSE listing guidelines. This notification will not immediately affect the company’s ADS listing on NYSE, provided that the company continues to meet all other ongoing listing requirements. The company expects that this notification will not impact its business operations or its obligations to report to the U.S. Securities and Exchange Commission (“SEC”).
The company believes that the adjustment of the ADS ratio will help it to once again meet the applicable NYSE continuous listing standards. The company stated that this adjustment will not affect its underlying business operations, financial condition, assets, liabilities, or shareholders' equity.
The company remains confident in its long-term strategy, business fundamentals, and growth prospects. To reflect this confidence and its commitment to continuously enhance the value for long-term shareholders, the company continues to actively implement its share repurchase program as previously announced. As of October 7, 2026, the company has repurchased 4,417,036 shares of ADS under the existing repurchase plan.
For the holders of company ADS, this adjustment to the ADS ratio is equivalent to a reverse split of 1 to 60. On the effective date, holders of ADS will need to return and exchange each 60 shares of ADS they held at that time for 1 new share of ADS. As the depository bank for the company's ADS plan, Bank of New York Mellon (The Bank of New York Mellon) will arrange this exchange. The company's ADS will continue to trade on the New York Stock Exchange under the code “AMTD”, but it will use a new CUSIP identifier.
This ADS proportion adjustment will not result in the issuance of any fragmented new ADS. Instead, the fragmented rights and interests will be aggregated by the depository bank and sold. The net cash proceeds from the sale of these fragmented ADS rights and interests (after deducting fees, taxes, and expenses where applicable) will be distributed by the depository bank to the respective ADS holders. This ADS proportion adjustment will not affect the company's underlying Class A common shares, nor will it result in the issuance or cancellation of any common shares as a result of this adjustment.
About AMTD IDEA Group
AMTD IDEA Group (New York Stock Exchange ticker: AMTD; Singapore Exchange ticker: HKB) is a diversified group that integrates institutions and digital solutions, connecting enterprises, investors, and global markets. Its one-stop comprehensive business services and digital solutions platform cater to the diverse and interrelated business and digital needs of customers at all stages of their lifecycle. AMTD IDEA Group acts as a "super connector" that links the East and the West, connecting customers, business partners, investee companies, and investors. For more information, please visit www.amtdinc.com, or follow @AMTDGroup on X (formerly Twitter).
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements under the “Safe Harbor” provisions of the 1995 U.S. Private Securities Litigation Reform Act. Such forward-looking statements can be identified by words such as “will”, “expect”, “anticipate”, “intend”, “future”, “plan”, “believe”, “estimate”, “possible”, and similar expressions. Statements other than historical facts, including those regarding beliefs, plans, and expectations regarding AMTD IDEA Group, are considered forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. For more information regarding these and other risks, please refer to the documents submitted by AMTD IDEA Group to SEC. All information provided in this press release is as of the date of issuance of this press release, and except as required by applicable law, AMTD IDEA Group assumes no obligation to update any forward-looking statements.
