BNY Mellon, the asset management and securities servicing, has been selected by Sterling International Enterprises Limited (Sterling International) as the depositary bank for its sponsored Global Depositary Receipt (GDR) program. Each Sterling International GDR represents four equity shares. The GDRs have been officially listed on the Euro MTF market of the Luxembourg Stock Exchange (LuxSE). Sterling International’s equity shares trade on the Bombay Stock Exchange under the symbol “STEERINTER.”
The Sterling GDRs and equity shares have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S., absent registration or an applicable exemption from the registration requirements.
Sterling International is a Mumbai-based information technology company engaged in providing information technology and equipment leasing services globally. The company maintains contact centers in Pune, Vadodara and Mumbai, India. Sterling International provides specialized services to companies worldwide in IT infrastructure management, tech support financial services, insurance, and healthcare services.
“The Indian software industry is a continuously growing and important market for BNY Mellon,” says Michael Cole-Fontayn, chief executive officer of BNY Mellon’s Depositary Receipts business. “We welcome the opportunity to serve Sterling International and aid in their effort to expand their presence in the global markets with our various visibility enhancing initiatives.”
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