The Bank of New York has been selected as successor depositary by Fresenius Medical Care for its ordinary and preference American depositary receipt (ADR) programmes. Each Fresenius Medical Care ordinary ADR represents one-third of an ordinary share. Each Fresenius Medical Care preference ADR represents one-third of a preference share.
The ordinary ADRs will trade on the New York Stock Exchange under the symbol “FMS”, and the preference ADRs will trade on the New York Stock Exchange under the symbol “FMSPR”.
Headquartered in Germany, Fresenius Medical Care is an integrated provider of products and services for individuals undergoing dialysis because of chronic kidney failure.
“We look forward to working with The Bank of New York,” says Oliver Maier, the senior vice president and head of investor relations and corporate communications at Fresenius Medical Care. “We are confident that they have the resources, strength, and professional expertise to help us continue to grow our programs and gain broader access to the U.S. marketplace.”
“We are pleased that an experienced issuer such as Fresenius Medical Care has chosen us as its depositary,” adds Christopher Sturdy, the executive vice president and head of the Depositary Receipt Division at the Bank of New York. “Our extensive experience in the healthcare industry and local knowledge of the German markets will enable us to maximise their programs’ potential.”