The Bank of New York Appointed as Depositary by Xinhua Finance Media Limited for Its Listed ADR Program
March 20 2007 - 11:41AM
PR Newswire (US)
NEW YORK, March 20 /PRNewswire-FirstCall/ -- The Bank of New York,
a global leader in securities servicing, has been selected by
Xinhua Finance Media Limited as the depositary bank for its Level
III American depositary receipt (ADR) program. Each Xinhua Finance
Media Limited ADR represents two common shares. The ADRs trade on
the NASDAQ Global Market under the symbol "XFML." Xinhua Finance
Media Ltd., a diversified media company based in China, provides
media and advertising services across various sectors of the media
business throughout China. The company also creates and produces
content that is distributed across nationwide television and print
media outlets and radio in Beijing and Shanghai, as well as sells
advertisements on broadcast, and print distribution platforms. More
information about the company is available at
http://www.xinhuafinancemedia.com/. Christopher Sturdy, executive
vice president and head of the Bank of New York's Depositary
Receipt Division, said, "Our experienced team of professionals will
provide customized support to Xinhua Finance Media as it builds its
presence and visibility in the U.S. market. We are delighted to add
an organization as prestigious as Xinhua Finance Media to our
growing client base of Chinese DR issuers. " The Bank of New York
is depositary for more than 1,250 American and global depositary
receipt programs, a 64% market share, acting in partnership with
leading companies from 62 countries. With an unrivalled commitment
to helping securities issuers succeed in the world's rapidly
evolving financial markets, the Bank delivers the industry's most
comprehensive suite of integrated depositary receipt, corporate
trust and stock transfer services. Additional information is
available at http://www.adrbny.com/. The Bank of New York has been
conducting business in the Asia-Pacific region for over 50 years.
The Company has 18 offices in 12 countries in the region. The Bank
of New York Company, Inc. (NYSE:BK) is a global leader in providing
a comprehensive array of services that enable institutions and
individuals to move and manage their financial assets in more than
100 markets worldwide. The Company has a long tradition of
collaborating with clients to deliver innovative solutions through
its core competencies: securities servicing, treasury management,
asset management, and private banking. The Company's extensive
global client base includes a broad range of leading financial
institutions, corporations, government entities, endowments and
foundations. Its principal subsidiary, The Bank of New York,
founded in 1784, is the oldest bank in the United States and has
consistently played a prominent role in the evolution of financial
markets worldwide. Additional information is available at
http://www.bankofny.com/. The Bank of New York provides no advice
nor recommendation or endorsement with respect to any company or
security. Nothing herein shall be deemed to constitute an offer or
solicitation of an offer to buy or sell securities. DATASOURCE: The
Bank of New York CONTACT: Dori Flanagan of The Bank of New York,
+1-212-815-2291 Web site: http://www.bankofny.com/
http://www.xinhuafinancemedia.com/ http://www.adrbny.com/
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