The Bank of New York Appointed Depositary by Empresa Distribuidora y Comercializadora Norte S.A. (Edenor) for its Listed Program
May 03 2007 - 11:56AM
PR Newswire (US)
NEW YORK, May 3 /PRNewswire-FirstCall/ -- The Bank of New York, a
global leader in securities servicing, has been selected by Empresa
Distribuidora y Comercializadora Norte S.A. (Edenor) as depositary
bank for its American depositary shares program. Each Edenor
American depositary share represents 20 Class B common shares. The
American depositary shares trade on the New York Stock Exchange
under the symbol "EDN." The Class B common shares trade on the
Buenos Aires Stock Exchange under the symbol "EDL." As stated by
the company, Buenos Aires-based Edenor is the largest electricity
distribution company in Argentina in terms of number of customers
and electricity sold (in both GWh and Pesos). Through a concession,
Edenor distributes electricity exclusively to the northwestern zone
of the greater Buenos Aires metropolitan area and the northern part
of the city of Buenos Aires to approximately 2.4 million customers.
Christopher Sturdy, executive vice president and head of The Bank
of New York's Depositary Receipt Division, said, "We congratulate
Edenor for being the first Argentine company to list on the NYSE
this year. We will support Edenor's efforts to raise its profile
among U.S. investors by providing personalized program management
and value-added services." 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 Latin America for over 100 years. The Company has
representative offices in Argentina, Mexico and Brazil, and offers
a full range of securities servicing, global payments, asset
management and trade finance products. 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 wealth management. 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.adrbny.com/
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