BNY Mellon has been selected by Tudou Holdings Limited as the depositary bank for its American depositary receipt (ADR) program.
Each Tudou ADR represents four ordinary shares and trades on the NASDAQ Exchange under the symbol “TUDO.”
Tudou is an online video company in China, providing an online platform for Chinese Internet users to upload, share, watch, rate and comment on videos through the Internet. It provides a comprehensive selection of differentiated user-generated content, premium licensed content and in-house developed content ranging from entertainment and animation to finance and music.
“This ADR program places us side-by-side with our international peers,” says Gary Wei Wang, founder and CEO of Tudou Holdings Limited. “We look forward to working with BNY Mellon’s specialized investor relations advisory group to maximize the visibility our ADR will provide and to target global investors that seek exposure to companies such as Tudou.”
Michael Cole-Fontayn, CEO of BNY Mellon’s depositary receipts business, adds: “Tudou’s listing marks the 12th DR-based IPO from China this yearwhich in all have raised more than $2.0 billion in capitaland the ninth for a Chinese technology or Internet firm. We look forward to working closely with Tudou to increase their international shareholder base.”
(CM)