The Bank of New York Mellon has been reappointed by Silicon Motion Technology Corporation (Silicon Motion) as the depositary bank for its American depositary receipt (ADR) program.
The Bank of New York Mellon has served as depositary for Silicon Motion since its initial public offering in June 2005. Each Silicon Motion ADR represents four ordinary shares and trades on the Nasdaq Global Select Market under the symbol “SIMO.”
Silicon Motion is a fabless semiconductor company that designs, develops and markets high performance, low-power semiconductor solutions for the multimedia consumer electronics market.
“From the very beginning of our partnership with The Bank of New York Mellon, they have demonstrated a strong understanding and expertise of the DR market,” says Riyadh Lai, chief financial officer of Silicon Motion. “Given our experience in working with The Bank of New York Mellon, we believe they are best positioned to assist us in achieving our strategic goals.”
“Our reappointment as depositary by Silicon Motion testifies to the quality of our people and the services we provide,” says Michael Cole-Fontayn, chief executive officer of The Bank of New York Mellon’s Depositary Receipt business. “We look forward to building on our partnership with Silicon Motion and further developing programs to help them raise visibility of their ADR program with the U.S. and global investment community.”
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