The Bank of New York Mellon has been selected by Tenaris S.A. as successor depositary bank for its American depositary receipt (ADR) programme.
Each Tenaris ADR represents two ordinary shares. The ADRs trade on the New York Stock Exchange under the symbol ‘TS’. The ordinary shares trade on the Mercado de Valores de Buenos Aires under the symbol ‘TS’, the Mercato Telematico Azionario under the symbol ‘TEN’ and the Bolsa Mexicana de Valores, S.A. de C.V. under the symbol ‘TS’.
“We are pleased to be serving as the new depositary for Tenaris, one ofthe largest and most active issuers in the DR universe. When a highly experienced DR issuer like Tenaris appoints us as successor depositary bank, we believe it attests to our proven track record and commitment to the business. We look forward to putting our resources to work for Tenaris,” says Christopher Sturdy, executive vice president and head of The Bank of New York Mellon’s Depositary Receipt Division.
The Bank of New York Mellon’s Depositary Receipt business is conductedthrough The Bank of New York subsidiary, which acts as depositary for morethan 1,300 American and global depositary receipt programs, acting inpartnership with companies from 63 countries.