BNY Mellon has been selected by Guotai Junan International Holdings Limited as the depositary bank for its American depositary receipt (ADR) program.
Based in Hong Kong, Guotai Junan’s services include securities and futures dealing and brokerage services for various financial markets, corporate finance and equity capital market services, asset management, and margin and other types of financing. The company also has a research team focused on Hong Kong-listed securities.
Each Guotai Junan ADR represents 20 ordinary shares and trades over the counter under the symbol “GTIJY.” Guotai Junan’s local shares trade on the Hong Kong Stock Exchange (HKSE) under the code “1788.”
“Establishing this ADR program will allow us to tap into U.S. investor interest in China,” says Dr. Yim Fung, executive director and CEO of Guotai Junan. “We look forward to working with BNY Mellon and its specialized investor relations advisory group on initiatives to maximize the visibility and valuation of our company.”
Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business, adds: “Guotai Junan was the first Mainland Chinese securities brokerage approved by the Chinese Securities Regulatory Commission to list on the HKSE in 2010. Amid continuing global volatility, China’s steady growth rate continues to draw US investor attention, and we’ll work closely with Guotai Junan management to help them access this important investment community.”
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs.
(CG)