The Bank of New York has been selected by Xinhua Finance Media Limited as the depositary bank for its Level III American depositary receipt (ADR) programme. Each Xinhua Finance Media Limited ADR represents two common shares. The ADRs trade on the NASDAQ Global Market under the symbol “XFML”.
Xinhua Finance Media Ltd., a diversified media company based in China, provides media and advertising services across various sectors of the media business throughout China.
“Our experienced team of professionals will provide customized support to Xinhua Finance Media as it builds its presence and visibility in the US market,” says Christopher Sturdy, an executive vice president and head of the Bank of New York’s Depositary Receipt Division. “We are delighted to add an organization as prestigious as Xinhua Finance Media to our growing client base of Chinese DR issuers.”