A round-up pf the latest depositary appointments, including BNY Mellon, Citi, J.P. Morgan and RBC Dexia.
BNY MellonBNY Mellon has been selected by Sinotel Technologies as the depositary bank for its American depositary receipt (ADR) program. Each Sinotel ADR represents 20 ordinary shares and trades on the over-the-counter (OTC) market. Sinotel ordinary shares trade on the Singapore Stock Exchange under the symbol “STEL.”
BNY Mellon has been selected by Brasil Telecom S.A. and Brasil Telecom Participacoes S.A. as the successor depositary bank for their ADR programs. Both companies are subsidiaries of the Brazil-based “Oi” Group and provide local fixed-line telecommunications services and intraregional long distance telecommunications services.
BNY Mellon has been selected by Hikma Pharmaceuticals PLC as the depositary bank for its ADR program. Each Hikma ADR represents two ordinary shares and trades on the over-the-counter (OTC) market. Hikmas ordinary shares trade on the London Stock Exchange (LSE) under the symbol HIK.
BNY Mellon has been selected by Anheuser-Busch InBev as the depositary bank for its newly established U.S.-listed ADR program. Each AB InBev ADR represents one ordinary share and trades on the New York Stock Exchange (NYSE) under the ticker symbol “BUD.” AB InBev’s ordinary shares trade on the NYSE Euronext under the symbol “ABI.”
BNY Mellon has been selected by Norse Energy Corp ASA (Norse) as the depositary bank for its ADR program. Each Norse ADR represents 10 ordinary shares and trades on the over-the-counter (OTC) market. Norse ordinary shares trade on the Oslo Stock Exchange (OSE) under the symbol “NEC.”
BNY Mellon has been selected by JSC RusHydro (RusHydro) as the depositary bank for its ADR program. This establishment reflects RusHydro’s decision to upgrade and combine its Regulation S global depositary receipt (GDR) program with a U.S. over-the-counter (OTC) traded ADR program. As a result, the Regulation S GDR program will be terminated and merged into the OTC-traded ADR program, and the ADRs will be listed and quoted on the EEA Regulated Market of the London Stock Exchange under the symbol “HYDR” and traded on the OTC market. RusHydro’s ordinary shares trade on the MICEX and Russian Trading System (RTS) under the symbol “HYDR.”
BNY Mellon has been selected by Banco Bradesco S.A. (Bradesco) as the successor depositary bank for its ADR program. Each Bradesco ADR represents one preferred share and trades on The New York Stock Exchange (NYSE) under the symbol “BBD.” Bradesco’s preferred shares trade on the Sao Paulo Stock Exchange (BOVESPA) under the symbol “BBDC4.”
CitiCitis Global Transaction Services business has been appointed by Home Retail Group, a UK home and general merchandise retailer, as the depositary bank for its ADR program. In making this appointment, Home Retail Group has designated Citi as the sponsor of what had previously been an unsponsored ADR program.
J.P. MorganJ.P. Morgan has been re-appointed as depositary bank for Korea Electric Power Corporation (KEPCO) ADR program, one of the largest programs in the Asia Pacific region to date. J.P. Morgan has been KEPCO’s depositary bank since 2004. KEPCOs principal activities are the transmission and distribution of electricity to industrial, general, residential, educational, agricultural, and street lamp sectors.
RBC DexiaRBC Dexia Investor Services (RBC Dexia) and Unione di Banche Italiane scpa (UBI Banca) have entered into an agreement for UBI Banca to transfer its depositary bank business to RBC Dexia. The value of the transaction is 93 million, based on a contract with a planned duration of ten years for the provision of depositary and fund administration services by RBC Dexia to UBI Bancas subsidiary UBI Pramerica more