The Bank of New York Mellon will serve as depositary bank to Imagi International Holdings Limited (IMAGI) for its American depositary receipt (ADR) program.
Each IMAGI ADR represents 100 ordinary shares. The ADRs trade on the over-the-counter market under the symbol “IINHY” and are listed on the International OTCQX. IMAGI’s ordinary shares trade on the Hong Kong Stock Exchange under the symbol “585.”
IMAGI develops and produces computer graphics (CG) animated feature films for worldwide audiences. The company has development operations in Los Angeles and CG production studios at its Chai Wan (Hong Kong) headquarters. IMAGI’s first theatrical movie, TMNT, was released in March 2007. Its next motion picture, Astro Boy, is slated for global release in October 2009.
“After careful consideration, we selected The Bank of New York Mellon as depositary because of its unmatched experience with DR programs from Hong Kong,” says Douglas Glen, chief executive officer, IMAGI. “We are confident the Bank has the resources to help us effectively reach U.S. investors and generate demand for our DRs.”
“We are delighted to be working with IMAGI,” says Michael Cole-Fontayn, chief executive officer, Depositary Receipt Division, Bank of New York Mellon. “As the depositary for 80% of sponsored DRs from Hong Kong, we have the expertise to help IMAGI develop strategic outreach initiatives designed to broaden its U.S. shareholder base.”
L.D.