Citi has been appointed by Travis Perkins, a building materials supplier in the U.K., as depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) program.
Travis Perkins’ ADR shares will trade in the U.S. OTC market under the symbol “TPRKY”. Each ADR represents 1 ordinary share, which are listed on the London Stock Exchange under the symbol “TPK”.
“The ADR program is an important way for us to reach pools of capital previously not available to us and provide investors with greater flexibility in how they choose to invest in us. As a predominantly U.K. organization it will also help increase our profile with United States-based investors, which are becoming an increasingly important source of funds for us,” says Tony Buffin, group finance director at Travis Perkins.
U.K. Construction Supplier Appoints Citi for ADR Program
Citi has been appointed by Travis Perkins, a building materials supplier in the U.K., as depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) program.
« Russia's CSD Connects to Deutsche Bank for U.S. Dollar Settlement