Standard Bank has appointed BNY Mellon as depositary for its sponsored ADR program. Previously, Standard Bank Group traded in the U.S. OTC market as an unsponsored DR program.
Each Standard Bank Group ADR represents one ordinary share and trades under the symbol “SGBLY.” Standard Bank’s ordinary shares trade on the Johannesburg Stock Exchange (JSE) under the symbol “SBK.”
Simon Ridley, CFO of Standard Bank Group, sais: “There is great scope for the expansion of banking services in sub-Saharan Africa, and this ADR program is an exciting new source of potential investors to drive our growth strategy.”
(JDC)