BNY Mellon to Provide Depositary Services for Mexican Airline

BNY Mellon has been chosen by Mexican discount airline Volaris as depositary bank for its American Depositary Receipt (ADR) program.

Volaris shares will be traded on the Mexican Stock Exchange and the New York Stock Exchange, where each ADR traded on the NYSE represent ten ordinary shares. The Volaris IPO is the first dual-listing coming from Mexico this year.

“Volaris’ decision to make its initial public offering on the NYSE is indicative of rising investor confidence in Mexican companies and their outlook on a growing Mexican economy,” says Christopher M. Kearns, CEO of BNY Mellon’s Depositary Receipts business. “We’ll work closely with Volaris’ team to heighten visibility and broaden its outreach to the U.S. investment community.”