NEW YORK, April 14, 2011 /PRNewswire/ -- BNY Mellon, the
global leader in investment management and investment services, has
been selected by Qihoo 360 Technology Co. Ltd. (Qihoo) as the
depositary bank for its American depositary receipt (ADR) program.
Each Qihoo ADR represents one-and-a-half ordinary shares and
trades on the New York Stock Exchange under the symbol "QIHU."
Qihoo is a provider of internet and mobile security products and
services to internet users in China. Qihoo's products and services
provide users with secure access points to Internet activities,
free of charge. The company's revenue is derived from
offering online advertising and internet value-added services.
"We have enjoyed a successful U.S. debut, as evidenced by the
fact that our IPO has been oversubscribed and priced beyond the
initial range," said Hongyi Zhou, Qihoo's chief executive
officer. "We look forward to working with BNY Mellon's world-class
depositary receipts team to capitalize on our success thus far and
continue to expand our shareholder base and increase awareness in
the global capital markets."
"Chinese technology companies have enjoyed excellent valuation
and success when conducting U.S. IPOs via depositary receipts,"
said Michael Cole-Fontayn, chief executive officer of BNY Mellon's
Depositary Receipts business. "Qihoo joins the ranks of
companies that are gaining ever increasing visibility in the U.S.,
and BNY Mellon's investor relations and related initiatives aim to
expand their brand even further."
BNY Mellon acts as depositary for more than 2,100 American and
global depositary receipt programs, acting in partnership with
leading companies from 67 countries. With an unrivaled commitment
to helping securities issuers succeed in the world's rapidly
evolving financial markets, the company delivers the industry's
most comprehensive suite of integrated depositary receipt,
corporate trust and stock transfer services. Learn more at
www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on
helping clients manage and service their financial assets,
operating in 36 countries and serving more than 100 markets. BNY
Mellon is a leading provider of financial services for
institutions, corporations and high-net-worth individuals, offering
superior investment management and investment services through a
worldwide client-focused team. It has $25.0
trillion in assets under custody and administration and
$1.17 trillion in assets under
management, services $12.0 trillion
in outstanding debt and processes global payments averaging
$1.6 trillion per day. BNY Mellon is
the corporate brand of The Bank of New York Mellon Corporation
(NYSE: BK). Learn more at www.bnymellon.com.
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.
SOURCE BNY Mellon