The Bank of New York was selected as the depositary for Mizuho Financial Group’s American depositary receipt (ADR) programme. One common share will represent five hundred ADRs, which will be traded on the New York Stock Exchange under “MFG.”
“The listing of Mizuho’s ADRs on the NYSE is clear evidence of a new era for Mizuho Financial Group and its return to the world stage,” says Terunobu Maeda, president and chief executive officer of Mizuho Financial Group. “It is also a symbol of the revival of the Japanese banking industry, following the long and difficult period of consolidation and reform. Through the listing, Mizuho aims to further strengthen internal controls in line with Sarbanes-Oxley compliance requirements and to improve corporate disclosure. Mizuho also hopes to diversify its global investor base as it gains and strengthens investor confidence.”
“We are honoured that Mizuho Financial Group, Inc., one of the worlds largest and most sophisticated financial services companies, has partnered with The Bank of New York to facilitate its NYSE listing, and we look forward to working with the Group to unlock the potential of the U.S. capital markets and the growing investor appetite for DRs,” says Christopher Sturdy, executive vice president and head of The Bank of New York’s depositary receipt division. “This appointment highlights the Bank’s strategy to act in cooperation with banks around the world, which is a major reason why three of every four banks globally select The Bank of New York as their depositary.”