NEW YORK, Oct. 11, 2017 /PRNewswire/ -- BNY Mellon, a
global leader in investment management and investment services,
announced today that it has been appointed as the successor
depositary bank by both BASF, the Germany-headquartered chemical company and
Orange, the French multinational telecommunications company, for
their American depositary receipt (ADR) programs.
As of October 17, 2017, each BASF
ADR will represent 0.25 ordinary shares. Currently, each BASF ADR
still represents one ordinary share. The company's ADRs will
continue to trade on the OTCQX under the symbol BASFY. BASF's
ordinary shares trade on the Frankfurt, Zurich and London Stock Exchanges under the
symbols "BAS" and "BFA." Each Orange ADR represents one ordinary
share and trades on the New York Stock Exchange under symbol
"ORAN." Orange's ordinary shares trade on the Euronext Paris
Exchange under the symbol, "ORA."
"We are delighted to welcome BASF and Orange to BNY Mellon's
depositary receipts group," said Christopher Kearns, CEO of BNY Mellon's
Depositary Receipts business. "These two appointments demonstrate
our continued long-term commitment to serving the depositary
receipts markets."
Overall, BNY Mellon acts as a depositary bank for more than
1,000 issuers from 64 countries and accounts for a 57% in share of
sponsored programs.
To learn more about BNY Mellon's Global Depositary Receipts
Group, please visit our website or submit a request and a member of
BNY Mellon's team will contact you.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of June 30, 2017, BNY Mellon had $31.1 trillion in assets under custody and/or
administration, and $1.8 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Additional information is available on www.bnymellon.com.
Follow us on Twitter @BNYMellon or visit our newsroom at
www.bnymellon.com/newsroom for the latest company news.
Contact:
Peter Gau
+1 212 815 2754
peter.gau@bnymellon.com
Frank Pinto
+1 917 309 1065
frank.pinto@bnymellon.com
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SOURCE BNY Mellon