BNY Mellon has been mandated by Unicharm Corporation, a hygiene product manufacturer, as the sponsored depositary bank for their American depositary receipt (ADR) program.
Five ADRs will represent one ordinary share on the U.S. OTC market under the symbol UNICY. Its ordinary shares trade on the Tokyo Stock Exchange under the code 8113. Unicharms ADRs were previously unsponsored, serviced by multiple depositaries.
“We look forward to using our new ADR program to make our equity more available to investors in the U.S.,” says Yasushi Akita, executive officer of Accounting Control & Finance Head Office for Unicharm. “We are particularly delighted to be partnering with BNY Mellon, the global leader in the DR market space, who will work with us to better serve our investors.”
“Unicharm’s decision to convert their unsponsored program to a sponsored ADR program shows their commitment to reaching the global investment community,” says Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business. “We’ll work closely with Unicharm’s management team to expand and diversify its global investor base through this new sponsored program.”
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