Australian department store chain David Jones has appointed BNY Mellon as sponsored depository bank for its American depository receipt (ADR) program.
Previously, David Jones traded as an unsponsored ADR program serviced by multiple depositaries. Each David Jones ADR represents one ordinary share and trades on the U.S. over-the-counter market under the symbol “DJNTY.” David Jones’ ordinary shares trade on the Australian Stock Exchange under the symbol “DJS.”
Established in 1838, David Jones is Australia’s oldest department store brand and the oldest department store in the world trading under its original name.
David Jones is the 28th sponsored DR program created for an Australia-based company in the last 12 months, including last week’s listing of Prima BioMed on NASDAQ. BNY Mellon has been named depositary for 27 of those listings.
(JDC)