Financial Wire

Graphex Group to Exit US ADS Programme in July

-- Graphex (HKG:6128) will terminate its sponsored American Depositary Shares (ADS) programme in the U.S., with the termination set to take effect on July 14, according to a Friday Hong Kong bourse filing.

The company said it has notified The Bank of New York Mellon, the depositary, to begin the termination process.

Graphex cited factors including the relatively small proportion of shares represented by ADSs and lower trading volume compared with its Hong Kong-listed shares.

The company added that its Hong Kong listing is expected to continue meeting its fundraising and investor access needs.

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