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Sohu.com replaces US holding company with Cayman Islands-based entity

Sohu.com Inc. filed to dissolve its U.S. presence and reincorporate as a Cayman Islands-based company days after shareholders voted to approve the reorganization plan.

All outstanding common shares Sohu.com Inc. were canceled. American depositary shares representing the outstanding ordinary shares of Sohu.Com Ltd. were distributed by Sohu on a share-for-share basis to the stockholders of the company, according to a Form 8-K filed May 31. Sohu Cayman replaced Sohu as a publicly traded holding company of the former Sohu.com's companies and assets.

Sohu expects trading in the ADSs representing Sohu Cayman ordinary shares on the Nasdaq Global Select Market to commence June 1.

Sohu.com's board unanimously approved of the plan in April. Shareholders approved it at a special meeting May 29.