Oatly (OTLY) said Friday it will change the ratio of its American Depositary Receipts to ordinary shares from one ADR per one share to one ADR per 20 shares.
The move will have the same effect as a 1-for-20 reverse ADR split for holders, the company said.
The ADR ratio change will take effect at the start of trading on Feb. 18 on the Nasdaq Global Select Market, the company said.
Oatly was down by 4% in recent premarket trading.
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