BNY Mellon has been selected as successor depositary by Eni S.p.A. for its American depositary receipt (ADR) program.
Eni is an integrated energy company operating in the oil and gas, electricity generation and sale, petrochemicals, oilfield services construction and engineering industries. The company is headquartered in Rome and active in 79 countries with around 80,000 employees.
Each Eni ADR represents two ordinary shares and trades on the New York Stock Exchange under the symbol “E.” Eni’s ordinary shares trade on the Milan Stock Exchange under the symbol “ENI.”
“The creation of new DR programs and high trading volumes have attested to the robust investor demand for energy stocks,” says Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business. “As successor depositary bank, our experts will work closely with Eni’s IR team to broaden its outreach to global investors and help them build on their existing success.”
BNY Mellon says it serves as depositary for 74% of all oil and gas producer DR programs globally. The firm acts as depositary for more than 2,500 American and global depositary receipt programs.
(CG)