JPMorgan announced the opening of the Class “A” American Depositary Receipt (ADR) program for Royal Dutch Shell plc in connection with the unification of the Royal Dutch Petroleum Company and Shell Transport and Trading plc.
The Royal Dutch Class “A” ADR program is valued at approximately U.S.$30 billion.
Trading has commenced in the new Class “A” ADRs on the NYSE under the symbol RDS.A. JPMorgan is acting as the exchange agent in the tender of the Royal Dutch New York Shares for the new Class “A” ADRs as well as the depositary bank for the company’s Class “A” ADR program (CUSIP G7690A100).
For the first time since the company’s amalgamation of Royal Dutch and Shell Transport’s business interests 98 years ago, shares of Royal Dutch Shell as a single entity are now traded on Euronext Amsterdam, the London Stock Exchange and as ADRs on the New York Stock Exchange.
“JPMorgan is honored to take part in this notable transaction by acting as exchange agent for the Royal Dutch New York Shares and depositary for the new Class “A” ADR program, and we commend our long-time partner, Royal Dutch Shell, for achieving this milestone,” said Patrick Colle, senior vice president, global head of JPMorgan’s ADR business, a group within JPMorgan Worldwide Securities Services.