Cango to Terminate ADR Program and List Class A Shares on NYSE

Following the end of its ADRs on November 14, 2025, Cango will begin trading Class A ordinary shares under ticker CANG on November 17 to boost investor access and institutional interest.

183d ago

Summary

Cango Inc. announced it will terminate its American Depositary Receipt (ADR) program after market close on November 14, 2025. Each ADS will convert into two Class A ordinary shares, which will start trading on the New York Stock Exchange on November 17 under the ticker CANG. The company stated the move aims to simplify shareholder rights for U.S. investors, remove custodial fees, and strengthen its appeal to institutional investors.

Terms & Concepts

American Depositary Receipt (ADR): A negotiable certificate issued by a U.S. bank representing shares of a foreign company, enabling U.S. investors to trade foreign stocks on American exchanges.
Class A Ordinary Shares: Standard equity shares that represent ownership in a company, typically carrying voting rights and direct access to dividends.
NYSE Listing: The process of a company’s shares being approved and traded on the New York Stock Exchange, the largest stock exchange by market capitalization.