BNY Mellon has been appointed by luxury apparel maker HUGO BOSS AG as depositary bank for its sponsored American Depositary Receipt (ADR) program.
Each HUGO BOSS AG ADR represents one-fifth of an ordinary share and trades on the over-the-counter market. HUGO BOSS AG’s ordinary shares trade on the Frankfurt Stock Exchange under the symbol BOSS.
HUGO BOSS, based in Metzingen, Germany, develops high-end women’s and men’s fashion and accessories. The firm had sales of 2.1 billion in fiscal year 2011.
“We are delighted to partner with BNY Mellon in establishing a sponsored ADR program,” says Mark Langer, CFO of HUGO BOSS. “We look forward to expanding our visibility and investor base within the U.S. capital markets via this ADR program.”
Christopher M. Kearns, deputy CEO of BNY Mellon’s Depositary Receipts business, adds: “We’ll work closely with HUGO BOSS to broaden its outreach to the global investment community, with the ultimate goal being diversification of its shareholder base by attracting more U.S. investors.
(CG)