BNY Mellon has been appointed as sole sponsored depositary bank by AIA Group Limited (AIA) for the company’s American depositary receipt program.
Previously, AIA traded as an unsponsored American depositary receipt program serviced by multiple depositaries. Each AIA American depositary receipt represents four ordinary shares and trades on the US OTC market under the symbol “AAGIY.” AIA’s ordinary shares are listed on the Main Board of The Stock Exchange of Hong Kong under the stock code “1299.”
“AIA is the third large insurance group this year, and second in Asia-Pacific, to choose BNY Mellon in converting from an unsponsored to sponsored DR program,” says Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business. “Sponsored programs can deliver additional value both in heightened visibility to global investors and in service, and we’ll work closely with AIA management to support their outreach objectives.”
(CM)