BEIJING, May 13, 2022
/PRNewswire/ -- Pintec Technology Holdings Limited (Nasdaq: PT)
("PINTEC" or the "Company"), a leading independent
technology platform enabling financial services in China, today announced that the ratio of its
American depositary share ("ADS") representing its Class A
ordinary shares ("ADS Ratio") is being amended from one (1)
ADS representing seven (7) Class A ordinary share to one (1) ADS
representing thirty-five (35) Class A ordinary shares.
There will be no change to the Company's Class A ordinary
shares. Furthermore, no physical action by ADS holders will be
required to effect the ratio change, as the change will be effected
on the books of the depositary. The effect of the ratio change on
the ADS trading price on the NASDAQ Global Market is expected to
take place at the open of business on May
16, 2022 (U.S. Eastern Time). Any fractional ADSs will be
sold and the net proceeds from the sale of fractional ADSs will be
distributed to the holders entitled thereto.
As a result of the change in the ADS Ratio, the ADS price is
expected to increase proportionally, although the Company can give
no assurance that the ADS price after the change in the ADS Ratio
will be equal to or greater than five times of the ADS price before
the change.
Safe Harbor Statement
This press release contains forward-looking statements. These
statements constitute "forward-looking" statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates," "target,"
"confident" and similar statements. Among other things, the
quotations from management in this announcement, as well as
PINTEC's strategic and operational plans, contain forward-looking
statements. PINTEC may also make written or oral forward-looking
statements in its periodic reports to the U.S. Securities and
Exchange Commission, in its annual report to shareholders, in press
releases and other written materials and in oral statements made by
its officers, directors or employees to third parties. Such
statements are based upon management's current expectations and
current market and operating conditions, and relate to events that
involve known or unknown risks, uncertainties and other factors,
all of which are difficult to predict and many of which are beyond
the Company's control. Forward-looking statements involve inherent
risks, uncertainties and other factors that could cause actual
results to differ materially from those contained in any such
statements. Potential risks and uncertainties include, but are not
limited to, the Company's limited operating history, regulatory
uncertainties relating to the markets and industries where the
Company operates, and the need to further diversify its financial
partners, the Company's reliance on a limited number of business
partners, the impact of current or future PRC laws or regulations
on wealth management financial products, and the Company's ability
to meet the standards necessary to maintain the listing of its ADSs
on the Nasdaq Global Market, including its ability to cure any
non-compliance with Nasdaq's continued listing criteria. Further
information regarding these and other risks, uncertainties or
factors is included in the Company's filings with the U.S.
Securities and Exchange Commission. All information provided in
this press release is as of the date of this press release, and the
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under applicable law.
About PINTEC
PINTEC is a leading independent technology platform enabling
financial services in China. By
connecting business and financial partners on its open platform,
PINTEC enables them to provide financial services to end users
efficiently and effectively. The Company offers its partners a full
suite of customized solutions, ranging from digital retail lending,
digital business lending, robotic process automation, to wealth
management and insurance products. Leveraging its scalable and
reliable technology infrastructure, PINTEC serves a wide range of
industry verticals covering online
travel, e-commerce, telecommunications, online education,
SaaS platforms, financial technology, internet search, and online
classifieds and listings, as well as various types of financial
partners including banks, brokers, insurance companies, investment
funds and trusts, consumer finance companies and other similar
institutions.
For further information, please contact:
Pintec Technology Holdings Ltd.
Phone: +86 (10) 8564-3600
E-mail: ir@pintec.com
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SOURCE Pintec Technology Holdings Limited