NEW YORK, April 25, 2012 /PRNewswire/ -- BNY Mellon,
the global leader in investment management and investment services,
has been appointed as sponsored depositary bank by David Jones
Limited for the company's American depositary receipt (ADR)
program. Previously, David
Jones traded as an unsponsored ADR program serviced by
multiple depositaries. Each David Jones ADR represents one
ordinary share and trades on the U.S. over-the-counter market under
the symbol "DJNTY." David
Jones' ordinary shares trade on the Australian Stock
Exchange under the symbol "DJS."
Established in 1838, David Jones
is Australia's oldest department
store brand and the oldest department store in the world trading
under its original name. David
Jones is one of Australia's
leading contemporary branded department stores, with a network of
36 stores across the country and flagship properties in
Sydney and Melbourne.
"The establishment of our sponsored ADR program meets the
growing U.S. investor demand for our security," said Helen Karlis, general manager of investor
relations and corporate affairs for David
Jones. "As our international capital markets needs
continue to develop, we are confident BNY Mellon's expertise will
be invaluable in helping us to diversify our U.S. shareholder base
and maximizing the visibility of our DR program."
David Jones is the 28th sponsored
DR program created for an Australia-based company in the last 12 months,
including last week's listing of Prima BioMed on NASDAQ. BNY
Mellon has been named depositary for 27 of those
listings.
"U.S. investors continue to seek diversified returns and
Australia offers a wide range of
options across industries," said Michael Cole-Fontayn, CEO of BNY
Mellon's Depositary Receipts business. "Our team of experts
looks forward to providing David
Jones with a comprehensive suite of support services,
allowing the firm to unlock the full potential of its DR
program."
BNY Mellon acts as depositary for more than 2,500 American and
global depositary receipt programs, acting in partnership with
leading companies from 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 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 $26.6 trillion in assets under custody and
administration and $1.3 trillion in
assets under management, services $11.9
trillion in outstanding debt and processes global payments
averaging $1.4 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 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.
SOURCE BNY Mellon