The Bank of New York Mellon Appointed as Depositary Bank by Changyou.com Limited for its Listed ADR Program
April 06 2009 - 11:37AM
PR Newswire (US)
NEW YORK, April 6 /PRNewswire-FirstCall/ -- The Bank of New York
Mellon (NYSE:BK), the global leader in asset management and
securities servicing, has been selected by Changyou.com Limited
("Changyou") as the depositary bank for its listed American
depositary receipt ("ADR") program. Each Changyou ADR represents
two ordinary shares. The ADRs trade on the NASDAQ Global Select
Market under the symbol "CYOU." Based in China, Changyou develops,
operates and licenses massively multi-player online role-playing
games (MMORPGs) - interactive games played simultaneously by
thousands of players. Changyou currently operates two MMORPGs: Tian
Long Ba Bu (TLBB), which was developed in-house, and Blade Online,
licensed from a third party. Launched in May 2007, TLBB was
recently ranked the third most popular online game overall in
China, with roughly 1.8 million active paying accounts for the
three months ending December 31, 2008. In March 2009, more than
800,000 peak concurrent users were playing TLBB. Changyou's
controlling shareholder, Sohu, has operated the Chinese Internet
portal Sohu.com since 1998. As of December 31, 2008, Sohu.com had
more than 250 million registered accounts. "We believe that our
sponsored NASDAQ-listed ADR program will help expand our investor
base and increase our visibility in the U.S. markets," said Mr.
Alex Ho, chief financial officer of Changyou. "As the market leader
in the depositary receipt business, The Bank of New York Mellon is
best positioned to help us achieve these goals." "By selecting The
Bank of New York Mellon as its depositary bank, Changyou is
confirming its commitment to attract greater investment from the
U.S. market," said Michael Cole-Fontayn, chief executive officer of
The Bank of New York Mellon's Depositary Receipt Division. "We look
forward to working with Changyou on customized outreach initiatives
to facilitate market awareness of its new depositary receipt
program." The Bank of New York Mellon acts as depositary for more
than 1,300 sponsored American and global depositary receipt
programs, working in partnership with leading companies from 64
countries. With an unrivalled 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. Additional information is available at
http://www.bnymellon.com/dr. The Bank of New York Mellon
Corporation is a global financial services company focused on
helping clients manage and service their financial assets,
operating in 34 countries and serving more than 100 markets. The
company is a leading provider of financial services for
institutions, corporations and high-net-worth individuals,
providing superior asset management and wealth management, asset
servicing, issuer services, clearing services and treasury services
through a worldwide client-focused team. It has $20.2 trillion in
assets under custody and administration, $928 billion in assets
under management, services more than $11 trillion in outstanding
debt, and processes global payments averaging $1.8 trillion per
day. Additional information is available at
http://www.bnymellon.com/. This release is for informational
purposes only. The Bank of New York Mellon provides no advice,
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. DATASOURCE: The
Bank of New York Mellon Corporation CONTACT: Dori Flanagan,
+1-212-815-2291, , or Joe Ailinger, +1-617-722-7571, , both of The
Bank of New York Mellon Corporation Web Site:
http://www.bnymellon.com/ http://www.bnymellon.com/dr
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