NEW YORK, May 28, 2014 /PRNewswire/ -- BNY Mellon, a
global leader in investment management and investment
services, has been appointed by Jumei International Holding
Limited as depositary bank for its American depositary receipt
(ADR) program. Each ADR represents one Class A ordinary share
and trades on the New York Stock Exchange under the symbol
"JMEI."
Jumei is China's No. 1
online retailer of beauty products as measured by gross merchandise
volume, with a market share of 22.1% in 2013, according to research
by Frost & Sullivan. Jumei's internet platform is a
destination for consumers to discover and purchase branded beauty
products and fashionable apparel and other lifestyle products
through the company's website and mobile application. Through its
understanding of customer needs and preferences, as well as its
merchandizing capabilities, Jumei has adopted multiple sales
formats to encourage product purchases on its platform, including
curated sales, online shopping mall, and flash sales.
"We believe that listing on NYSE and gaining access to the U.S.
capital markets will support our strategic efforts to strengthen
our brand globally and further expand our IT infrastructure," said
Mona Gao, co-CFO of Jumei. "Our
vision is to build a strong company with a large and loyal user
base and to create visibility and awareness of Jumei among global
investors."
Yunsheng Zheng, co-CFO of Jumei,
added, "We chose BNY Mellon as our depositary bank because of their
excellent track record and expertise in supporting DR issuers in
achieving their goals."
"This initial public offering on NYSE is important to Jumei and
indicative of growing Asian companies choosing to list abroad and
investor demand for these equities," said Christopher M. Kearns, CEO of BNY Mellon's
Depositary Receipts business. "The pipeline for Chinese companies
seeking to conduct their IPOs in the U.S. continues to be
strong. We look forward to partnering with Jumei to support
their efforts in expanding their international shareholder
base."
BNY Mellon acts as depositary for more than 2,800 American and
global depositary receipt programs, acting in partnership with
leading companies from over 65 countries. BNY Mellon is committed
to helping securities issuers access the world's rapidly evolving
financial markets and delivers a comprehensive suite of depositary
receipt services. Learn more at www.bnymellon.com/dr
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 March 31, 2014, BNY Mellon had $27.9 trillion in assets under custody and/or
administration, and $1.6 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). Learn more at www.bnymellon.com, or follow us on Twitter
@BNYMellon.
This release is for informational purposes only. BNY Mellon
provides no advice nor recommendation or endorsement with respect
to any company or securities. Nothing herein shall be deemed to
constitute an offer to sell or a solicitation of an offer to buy
securities. Depositary Receipts: Not FDIC, State or Federal Agency
Insured; May Lose Value; No Bank, State or Federal Agency
Guarantee. BNY Mellon provides no advice nor recommendations or
endorsement with respect to any company, security or products based
on any index licensed by BNY Mellon, and we make no representation
regarding the advisability of investing in the same.
Contacts: Joseph F. Ailinger
Jr.
+1 617-722-7571
joe.ailinger@bnymellon.com
SOURCE BNY Mellon