German Chemical Giant BASF SE ADR Stock Split 2017

BASF SE(BASFY), the world’s largest chemical maker has announced a stock split of its ADR shares. The German company implemented a 2: 1 stock split on the ADR back in 2008. This year the split ratio is 4:1.

The depository BNY Mellon published the following details on this split:

The Bank of New York Mellon, as Depositary, at the direction of BASF SE, is announcing a ratio change on the Depositary Receipt (“DR”) program from one (1) DS representing one (1) Ordinary share to the new ratio of four (4) DSs representing one (1) Ordinary share. The ratio change will occur simultaneously with a 300% DS distribution (3 additional DS for each 1 DS held).

Please note: A ratio change may impact the fees payable by DR investors. BNY Mellon’s books will be closed for all issuance and cancellation transactions from the close of business October 12, 2017 and will reopen on October 19, 2017.

BNY MELLON HAS ESTABLISHED THE FOLLOWING DATES FOR THIS CORPORATE ACTION:
DR Record Date: Oct 12, 2017
DR Payable Date: Oct 16, 2017
DR Effective Date: Oct 17, 2017
DR Distribution Rate: 300%
Old Ratio: 1 DS: 1 Ordinary Shares
New Ratio: 4 DSs: 1 Ordinary Share

Source: BNY Mellon

BASF closed at $105.86 this past Friday.

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