好未来(TAL)
公告将美国存托凭证（ADS）将于2017年8月8日收盘后拆股，拆股比例1拆6。
原文：
TAL Education Group (“TAL” or the “Company”) (NYSE: TAL), a leading K-12 after-school tutoring services provider in China, today announced that it will change its American depositary share (“ADS”) to Class A common share (“Share”) ratio from one (1) ADS representing two (2) Shares to three (3) ADSs representing one (1) Share.
The Company will file an amendment to its registration statement on Form F-6 and a registration statement on Form F-6 (collectively, the “Form F-6”) with the Securities and Exchange Commission (the “SEC”) to reflect the change in the ADS ratio. The Company anticipates that the change in the ADS ratio will be effective on August 16, 2017, subject to the SEC having declared the Form F-6 to be effective on or before that date.
Holders of TAL ADSs of record as of the close of business on August 8, 2017 will receive five (5) additional ADSs for every one ADS held on that date. For TAL’s ADS holders, this ratio change will have the same effect as a 6-for-1 ADS split.
The ADS ratio change will have no impact on TAL’s underlying Shares. Furthermore, no action by ADS holders is required to effect the ratio change.
那什么是拆股呢？
点击查看：
【科普贴】拆股、合股知多少
什么是ADS？
ADS，American Depositary Shares， 即美国存托股份或 美国存托凭证(ADRs)，允许外国的股票在美国股票交易所交易。事实上，大多数的外国公司股票以这种方式在美国股票交易所交易。美国存托凭证由美国的存托银行发行，每个ADR代表了一个或者多个外国的股票，或者一小部分股票。当你持有ADR时，你有它所代表的外国股票的权益、凭证。
ADR/ADRs American Depository Receipts 美国存托凭证
ADR是非常简单的。
例如，让我们来谈论CanCorp(加拿大的一家公司)的股票吧，它在加拿大的股票交易所交易，价格为5.75加元(相当于5美元)，一个美国银行买了一定数量的的股票，然后又以2:1的比例卖掉了ADR，就是说一份ADR代表两份CanCorp股票，因此每份ADR应该卖10美元。
美国存托股份(ADS)，它是ADR所代表的实际基础股票。也就是说ADS是实际交易的股票，当ADR代表了一些ADSs。
例如，如果美国的投资者想投资CanCorp，投资者从经纪人处购买的ADRs相当于他想要购买的CanCorp股票的金额。在这种情况下，ADRs是已购股票的凭证，而ADSs则代表他投资CanCorp的基础股票。
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