The Bank of New York has been selected by Universal Holdings Limited as the depositary for its American depositary receipt (ADR) program. Each Universal Holdings Limited ADR represents fifty (50) ordinary shares. The ADRs trade on the over-the-counter market under the symbol “ULHDY,” and the ordinary shares are listed on the Hong Kong Stock Exchange under the symbol “419.”
Headquartered in Hong Kong, Universal Holdings Limited, through its subsidiaries and partners, provides entertainment content in China.
Timothy Shen, chief financial officer of Universal Holdings, said, “We are pleased to be working with The Bank of New York as we bring our ADR program to the U.S. market. We wanted to work with a depositary familiar with our business and were impressed that the Bank services depositary receipt programs for media companies throughout Asia. We are confident that The Bank of New York will meet our needs and help us create demand for our ADR shares.”