NaaS Technology Inc. (NAAS, Financial) is set to implement a change in the ratio of its American Depositary Shares (ADSs) to Class A ordinary shares, effective April 28. The company will adjust the current ADS ratio from one ADS representing 200 Class A ordinary shares to a new ratio of one ADS representing 800 Class A ordinary shares.
This adjustment, equating to a one-for-four reverse ADS split, will require ADS holders to exchange every four existing ADSs for one new ADS. It's important to note that this change will not affect the total number of underlying Class A ordinary shares, and there will be no issuance or cancellation of these shares as part of this process.
The key outcome anticipated from this adjustment is an increase in the trading price of the ADSs, due to the reduced quantity of ADSs relative to the original number. This move is intended to enhance the market valuation and attractiveness of NaaS's ADSs without altering the fundamental equity structure of the company.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 1 analysts, the average target price for Naas Technology Inc (NAAS, Financial) is $96.00 with a high estimate of $96.00 and a low estimate of $96.00. The average target implies an upside of 18,940.06% from the current price of $0.50. More detailed estimate data can be found on the Naas Technology Inc (NAAS) Forecast page.
Based on the consensus recommendation from 1 brokerage firms, Naas Technology Inc's (NAAS, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.