The Bank of New York Mellon has been selected by K+S Aktiengesellschaft (K+S) as depositary bank for its sponsored Level I American depositary receipt (ADR) program.
Each K+S ADR represents 0.5 ordinary shares. The ADRs trade on the over-the-counter market under the symbol “KPLUY,” and the ordinary shares trade in the Prime Standard on the Frankfurt Stock Exchange under the symbol “SDF.”
The K+S Group is a supplier of specialty and standard fertilizers as well as plant care and salt products.
“We believe that our sponsored Level I ADR program will help expand our investor base and increase our visibility in the U.S.,” says Christian Herrmann, head of Investor Relations of K+S. “The Bank of New York Mellon, as the market leader in the depositary receipts business, is best positioned to help us achieve these goals.”
“By selecting The Bank of New York Mellon as its depositary bank, K+S Aktiengesellschaft is confirming its commitment to attracting more investment from the U.S. market,” says Michael Cole-Fontayn, chief executive officer, Depositary Receipt Division, Bank of New York Mellon. “We look forward to working with K+S on customized outreach initiatives to facilitate market awareness of its new program.”
L.D.