The Bank of New York Mellon has been appointed by Grupo Financiero Banorte, S.A.B. de C.V. as the depositary bank for its American depositary receipt (ADR) program.
Each Grupo Financiero Banorte ADR represents five common shares and trades on the over-the-counter market under the symbol “GBOOY.” The common shares trade on the Bolsa Mexicana de Valores under the symbol “GFNORTEO.”
Grupo Financiero Banorte is a financial group that provides a range of products and services through its banking unit, broker-dealer, insurance, retirement savings funds, mutual funds, annuities’ company, factoring & leasing, and warehousing, serving more than 13 million clients. The bank conducts commercial and retail banking activities in Mexico through more than 1,000 branches and 4,100 ATMs.
“We selected The Bank of New York Mellon as depositary because of its proven track record,” says Don Roberto Gonzalez Barrera, chairman of the board of Grupo Financiero Banorte. “We seek to maximize U.S. investor interest in our program, and we believe the Bank has the resources and expertise necessary to help us achieve that goal.”
“We look forward to helping Grupo Financiero Banorte unlock the potential of the U.S. capital markets,” says Michael Cole-Fontayn, chief executive officer of Depositary Receipt Division, The Bank of New York Mellon. “As the world’s leading depositary, The Bank of New York Mellon will utilize its resources to develop a long and mutually beneficial partnership with Grupo Financiero Banorte and its investors.”
L.D.