JA Solar changes ADS ratio to 1 ADS representing 5 ordinary shares JA Solar Holdings announced that it will change the ratio of its American Depositary Shares, or ADSs, to ordinary shares from one ADS representing one ordinary share to one ADS representing five ordinary shares, effective on December 10. Each shareholder of record at the close of business on December 10 will be required to exchange every five ADSs then held for one new ADS. The effect on the ADS price will take place on December 10. For JA Solar's ADS holders, this ratio change will have the same effect as a one-for-five reverse ADS split. There will be no change to JA Solar's underlying ordinary shares. ADS holders will be required to surrender their existing ADSs in exchange for new ADSs of the company.
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