BNY Mellon has been selected as successor depositary by Himax Technologies, Inc. for its American depositary receipt (ADR) program.
Each Himax ADR represents two ordinary shares and trades on the NASDAQ Global Select Market under the symbol “HIMX.”
Headquartered in Taiwan, Himax is a semiconductor solution provider dedicated to display image-processing technologies, including circuits and controllers used in TVs, notebook computers, monitors, mobile phones, tablets, digital cameras, car navigation, and other consumer electronics devices. Himax employs around 1,400 people throughout Taiwan, China, Korea, Japan and the U.S. and has more than 1,200 global patents.
“We were impressed by the global resources and customized solutions that BNY Mellon can offer a high growth company such as ours,” said Jackie Chang, CFO of Himax. “We look forward to working with BNY Mellon on initiatives that will strengthen visibility of our company and our DR program.”
BNY Mellon serves as depositary on 46 of the 127 DR programs for Taiwanese companies, most of them structured as Global Depositary Receipts (GDRs). The eight U.S.-listed ADR programs are all from the technology and telecom sector, with a collective market cap of roughly $120 billion and trading over the last 12 months valued at more than $55 billion, the firm says.
“To be chosen by Himax illustrates our capacity to support rapidly growing firms in dynamic sectors,” says Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business. “We’ll work closely with Himax on their efforts to grow liquidity and expand outreach to the global investment community.”
(CG)