The Bank of New York has been selected as successor depositary by Wal-Mart de Mexico for its American depositary receipt program (ADR). Each Wal-Mart de Mexico ADR represents 10 Series V shares. The ADRs trade on the over-the-counter market under the symbol “WMMVY,” and the V shares are listed on the Mexican Stock Exchange under the symbol “WALMEX.”
Wal-Mart de Mexico is a major retail chain in Mexico. As of the company’s most recent publicly available information, it operates 786 locations throughout Mexico, including 205 Bodegas Aurrera, 70 Sam’s Clubs, 105 Wal-Mart Supercenters, 55 Superamas, 53 Suburbias, and 298 restaurants. Its stock has been listed on the Mexican Stock Exchange since 1977.
“It is rewarding for The Bank of New York when experienced DR issuers choose us as their partner,” said Christopher Sturdy, executive vice president and Head of The Bank of New York’s Depositary Receipt Division. “We are delighted to be working with Wal-Mart de Mexico to improve its visibility in the US investor community and look forward to providing an array of solutions to meet its future needs.”