News
China Eastern Airlines American depositary shares facility terminated
May 10th 2023
China Eastern Airlines (CEA) said its American depositary shares (ADS) facility with the New York Stock Exchange ended on May 8 (U.S. Eastern Time). Read More » Holders of ADSs have the right until the cut-off date of May 10, 2023 to surrender their ADSs to The Bank of New York Mellon (BNY Mellon) in exchange for H Shares of the company traded on the Stock Exchange of Hong Kong. Each ADS can be swapped for 50 H Shares. “Subsequent to the cut-off date, BNY Mellon may attempt to commence the sale of CEA H Shares represented by the remaining ADSs, and upon any such sale, will pay the net cash proceeds, after deducting applicable fees and expenses, to the holders of such remaining ADSs upon surrender of such ADSs,” CEA said in a regulatory filing. CEA flagged the closure of its ADS program in January.
