Sequans Communications Announces Change in Ratio of American Depositary Shares to Ordinary Shares | Business Wire
PARIS–(BUSINESS WIRE)–Sequans Communications S.A. (NYSE: SQNS), leading provider of LTE for IoT chips and modules, today announced that its Board of Directors has approved a change in the number of its ordinary shares represented by American Depositary Shares, issued by the Bank of New York Mellon as depositary, from 1 ordinary share per ADS to 4 ordinary shares per ADS. The change in exchange ratio for the ADSs will have the same effect as a 1-for-4 reverse stock split of the ADSs. The ADSs will continue to trade on the New York Stock Exchange. Sequans’ ordinary shares are not affected by the change. The Company’s total outstanding share capital at present is 95,215,582 ordinary shares.