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China Finance Online conducts 10-to-1 ratio change of ADS program

China Finance Online Co. Ltd. conducted a 10-to-1 ratio change of its American depositary share program, effective Jan. 6.

The stock split resulted in one ADS of the company representing 50 of its ordinary shares, compared to 5 shares previously.

The company noted that it had received a letter of noncompliance from Nasdaq's listing qualifications department in July 2019 regarding its ADS trading price.

China Finance Online believes that the change in the ADS ratio will help the company to maintain compliance with the continued listing requirements of Nasdaq.