Key insights
- Ascendis Pharma (ASND) will transition to a direct listing of ordinary shares on Nasdaq, effective April 20, 2026. All ADSs will be exchanged for ordinary shares on a 1:1 basis. The transition is subject to Nasdaq approval and DTC eligibility. This is a corporate action with no immediate or significant impact on the broader US equity market.
Ascendis Pharma A/S (NASDAQ:ASND) announced Wednesday that it will transition to a direct listing of its ordinary shares on The Nasdaq Global Select Market, effective at the opening of trading on April 20, 2026. The company stated that all outstanding American Depositary Shares (ADSs) will be mandatorily exchanged for ordinary shares on a one-to-one basis.
According to the press release statement, the last trading day for Ascendis Pharma’s ADSs on Nasdaq is expected to be April 17, 2026. After the transition, the company’s ordinary shares will trade under the same ticker symbol, “ASND.” The Bank of New York Mellon, acting as Depositary for the ADSs, will oversee the mandatory exchange process, requiring holders to surrender their ADSs in return for ordinary shares.
Holders of ADSs through The Depository Trust Company (DTC), including those using banks, brokers, or other securities intermediaries, will have their ADSs automatically canceled and will receive ordinary shares through the DTC accounts of their respective brokers.
Ascendis Pharma noted in its filing that the planned listing and exchange are subject to the ordinary shares being approved for listing on The Nasdaq Global Select Market and becoming eligible for clearance and holding in the DTC system.
This information is based on a statement provided in a press release included with the company’s SEC filing.
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