Pharming Group announces ADSs admitted to trade on Nasdaq under the symbol PHAR
U.S. SEC declares registration statements effective
Each ADS represents 10 ordinary shares
The Company s ordinary shares continue to trade on Euronext Amsterdam
No new shares issued in connection with the Nasdaq listing
LEIDEN, Netherlands, Dec. 22, 2020 /PRNewswire/ Pharming Group N.V. ( Pharming or the Company ) (Euronext Amsterdam: PHARM) announces that, effective today, its American Depositary Shares ( ADSs ) have been admitted for listing on the Nasdaq Global Market ( Nasdaq ) under the symbol PHAR and will begin trading tomorrow; Wednesday 23 December. Each ADS represents 10 of the Company s ordinary shares of €0.01 nominal value ( Ordinary Shares ).
Wednesday, December 23, 2020
Last week, on December 16, 2020, Chinese-based coffee chain Luckin Coffee Inc. (“Luckin”) agreed to a $180 million settlement with the United States Securities and Exchange Commission (“SEC”). Luckin’s American Depositary Shares traded on the Nasdaq until July 13, 2020. The settlement stems from allegations that Luckin defrauded investors by materially misstating revenues, expenses, and net operating losses. The SEC’s complaint alleges that these fraudulent accounting actions were taken in an attempt by Luckin to increase profitability and meet earnings estimates.
The case is a reminder of risks associated with investing in U.S. listed companies with Chinese operations, which the SEC flagged in a June 2011 bulletin and a December 2018 cautionary public statement. The case follows a number of SEC enforcement proceedings brought in 2011-2012 featuring trading halts or delistings of at least 50 companies in those years.
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Each ADS represents 10 ordinary shares
The Company s ordinary shares continue to trade on Euronext Amsterdam
No new shares issued in connection with the Nasdaq listing
LEIDEN, Netherlands, Dec. 22, 2020 /PRNewswire/ Pharming Group N.V. ( Pharming or the Company ) (Euronext Amsterdam: PHARM) announces that, effective today, its American Depositary Shares ( ADSs ) have been admitted for listing on the Nasdaq Global Market ( Nasdaq ) under the symbol PHAR and will begin trading tomorrow; Wednesday 23 December. Each ADS represents 10 of the Company s ordinary shares of €0.01 nominal value ( Ordinary Shares ).
The United States Securities and Exchange Commission ( SEC ) has also declared effective the Company s registration statements on Form F-1 and Form F-6, each filed with the SEC.
Pharming Announces Instructions for Exchanging Listed Ordinary Shares into Nasdaq Listed ADSs | ANP Pers Support perssupport.nl - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from perssupport.nl Daily Mail and Mail on Sunday newspapers.