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AMTD IDEA Group Adjusts American Depositary Shares Ratio

On October 6, 2026, the AMTD IDEA Group (listed on NYSE as AMTD and SGX as HKB) declared a pivotal adjustment in the ratio of its American depositary shares (ADSs) to its Class A ordinary shares. This initiative, termed the ADS Ratio Change, aims to enhance the company's compliance status with the New York Stock Exchange (NYSE) regulations. The change will transition from one ADS representing six Class A ordinary shares to one ADS representing 360 Class A ordinary shares, becoming effective on or around October 19, 2026.

Background of the Change

The motivation for this adjustment arises from a recent notice received by AMTD IDEA from the NYSE on July 8, 2026. The notice indicated that AMTD was not in compliance with Section 802.01C of the NYSE Listed Company Manual, as the average closing price of the company's ADSs fell below $1.00 over a consecutive 30-day trading period, specifically as of July 7, 2026. However, this notice does not immediately affect the listing status of the company's ADSs, provided ongoing adherence to NYSE's other continued listing requirements is maintained. Furthermore, the notice does not impact the company's operational processes or its obligations concerning the U.S. Securities and Exchange Commission.

Strategic Intent Behind the ADS Ratio Change

The leadership at AMTD IDEA firmly believes that this adjustment will assist in fulfilling the NYSE's listing standards and ensure continued trading of its ADSs on the exchange. Importantly, the ADS Ratio Change will not influence the underlying business operations, financial condition, assets, liabilities, or shareholders' equity of the company. The organization remains positive about its core strategy and growth outlook, emphasizing commitment to enhancing long-term shareholder value with ongoing share repurchase initiatives. As of October 7, 2026, AMTD IDEA has successfully repurchased a substantial number of ADSs, totaling 4,417,036 under the current repurchase programs.

Effect on ADS Holders

For holders of ADS, this change represents a one-for-60 reverse ADS split. Therefore, on the effective date, ADS holders will exchange every 60 ADSs held for one new ADS. The Bank of New York Mellon, acting as the depositary bank for the ADS program, will manage this exchange process. The trading of the company's ADSs will continue under the ticker symbol "AMTD," with the introduction of a new CUSIP number.

It's also essential to note that fractional new ADSs will not be issued as a part of this change. Instead, the fractional entitlements will be accumulated and sold by the depositary bank, with net proceeds distributed to affected ADS holders after applicable fees and taxes. It ensures that the ADS Ratio Change won’t affect the company's underlying Class A ordinary shares, meaning no shares will be issued or canceled as a consequence.

Conclusion

In summary, AMTD IDEA Group’s decision to modify the ADS ratio reflects a strategic move aimed at aligning with compliance standards and reinforcing investor confidence. Through this well-structured approach, the company is poised to safeguard its market presence and continue enhancing the shareholder experience, while navigating the complexities of the financial regulatory environment with a strong forward-looking vision. For more information, interested parties can visit AMTD's official site or follow them on their social media platforms for the latest updates.