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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.