BNY Mellon has been selected by BioLineRx Ltd. as the depositary bank for its American depositary receipt (ADR) program.
Each BioLineRx ADR represents ten ordinary shares and trades on the NASDAQ Capital Market under the symbol “BLRX.” BioLineRx’s ordinary shares trade on the Tel Aviv Stock Exchange under the symbol “BLRX.”
“Listing our ADR on NASDAQ is a landmark step in the development and growth of our company, as we look to expand our presence in the US,” says Dr. Kinneret Savitsky, CEO of BioLineRx. “We are pleased to partner in this effort with BNY Mellon, the leader in depositary receipts. We believe its experience working with Israeli issuers and its breadth of services will ensure strong support for our listing as well as our shareholders.”
Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business, adds: “BioLineRx is the second Israeli bio-med company to create an ADR program this year and the first to list its ADR on a major US exchange. Israel’s bio and tech sectors continue to develop innovative new technologies and companies. We’ve been supporting Israeli companies’ expansion in the global markets for nearly 25 years and will work closely with BioLineRx’s team to make their listing a success.”
(CM)