May. 16 at 8:56 PM
$SYT SYLA Technologies is voluntarily de-listing or terminating it's ADS. Search SYT on: www.adrbny.com for information on it.
What seems like will happen is, SYT can be converted into Cumica Corporation - Ticker 8887 on the Tokyo stock exchange is currently priced at 336 Yen, which equals about
$2.31 USD. There's a bunch of calculations from Yens to USD and from ADS to ordinary shares, but I think it works out to about
$2.50 per SYT share after the conversion, if you elect to convert them. 1/100 from ADS to ordinary, then 110 of Cumica (8887) for each ordinary.
I have found that some of the brokers do not know how to handle this offer. I was advised to liquidate my shares on the open market before 5/28 or my share might be worthless. I would say to be careful and do your own research before liquidating your SYT shares or participating in the conversion offer. I also emailed some points of contact with Bank of NY Mellon, but have not heard back yet.