The Bank of New York Mellon Selected as Depositary for Inversiones Aguas Metropolitanas' Level I ADR Upgrade
August 06 2007 - 3:00PM
PR Newswire (US)
NEW YORK, Aug. 6 /PRNewswire-FirstCall/ -- The Bank of New York
Mellon, the global leader in securities servicing, has been
selected by Inversiones Aguas Metropolitanas S.A (IAM) as the
depositary bank for its Level I American depositary receipt (ADR)
program. Under the Level I program, each IAM ADR represents 20
common shares of the company. The Level I ADRs will trade on the
Over-the-Counter market (OTC) under the ticker symbol "IAMTY." The
common shares trade on the Santiago Stock Exchange under the symbol
"IAM." Marta Colet, chief executive officer of IAM, said, "The
establishment of a Level I ADR program reinforces our company's
commitment to providing our shareholders with an efficient and cost
effective investment vehicle. This upgrade to an unrestricted
facility gives us the opportunity to expand our equity presence
throughout the global capital markets and provides access to IAM
shares to a broad universe of U.S. and global investors."
Christopher Sturdy, executive vice president and head of The Bank
of New York Mellon's Depositary Receipt Division, said, "We are
delighted that IAM has decided to broaden its relationship with us.
As the leading depositary bank, we have the expertise and
experience it takes to guide clients through the process of
upgrading and expanding the scope of their DR programs."
Inversiones Aguas Metropolitanas, through its 50.1% shareholding on
Aguas Andinas and subsidiaries, is the largest sanitation group in
Chile and one of the largest private-sector companies in this
business in Latin America. The company provides sanitation services
to almost 6 million inhabitants in the Santiago Metropolitan
Region, with services that cover the whole water cycle, involving
abstraction, production and distribution of drinking water and
collection, treatment and final disposal of wastewater, for
residential, industrial and commercial customers. IAM's strategic
partner and controlling shareholder is the Agbar Group, the
principal Spanish private-sector company for supplying water to
households, with 140 years in the sector and with more than 23
million inhabitants served worldwide. The Bank of New York Mellon's
Depositary Receipt business is conducted through The Bank of New
York subsidiary, which acts as depositary for more than 1,270
American and global depositary receipt programs, acting in
partnership with leading companies from 60 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.adrbny.com/. The Bank of New
York Mellon Corporation is a global financial services company
focused on helping clients manage and move their financial assets,
operating in 37 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 and treasury services through a
worldwide client-focused team. It has more than $20 trillion in
assets under custody and administration and more than $1 trillion
in assets under management. Additional information is available at
http://www.bnymellon.com/. The Bank of New York Mellon 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 Mellon CONTACT: Dori Flanagan of
The Bank of New York Mellon, +1-212-815-2291, Web site:
http://www.bnymellon.com/ http://www.adrbny.com/
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