Nike BDR program consolidates 10 BDRs into 2, shifting ratio to 1 Nike share per 2 BDRs
NKE•Brazil BDR ratio will change on Oct. 14
Nike Inc.’s Brazil-traded BDR program will undergo a share consolidation, shifting the ratio to 1 Nike share per 2 BDRs.
The current ratio is 1 Nike share per 10 BDRs, implying a 10-for-2 consolidation of BDR holdings.
Brazil record date is Oct. 9; ex-date is Oct. 13; the updated backing takes effect Oct. 14.
Fractional entitlements will be sold in auction
Fractional entitlements from the consolidation will be aggregated and then sold via a B3 auction.
