The Bank of New York announced Wednesday that it has been selected by Chunghwa Telecom to serve as depositary bank for its global offering of American depositary receipts.
The ADRs trade on the New York Stock Exchange under the symbol CHT, and the ordinary shares trade on the Taiwan Stock Exchange.
Chunghwa provides a range of telecommunication and information-related services in Taiwan, including fixed-line services, wireless services, and Internet and data services.
“Chunghwa now ranks among the world’s leading issuers of depositary receipts. Its latest transaction, which raised nearly $1 billion, brings the company’s total depositary receipt capital to over $5 billion during the past three and one-half years – an amount unmatched by any other U.S.-listed depositary receipt issuer during that period,” says Christopher Sturdy, executive vice president and head of The Bank of New York’s Depositary Receipt Division.