NEW YORK, Sept. 11, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by iDreamSky Technology Limited as the depositary bank for its American depositary receipt (ADR) program. Each ADR represents four ordinary shares and trades on the NASDAQ Stock Exchange under the symbol 'DSKY.'
iDreamSky operates game publishing as a service business, offering live game services and gaining user insights to optimize the mobile gaming experience. It has launched popular titles such as Fruit Ninja, the Temple Run series, and Subway Surfer in China, as well as self-developed games.
"Our ADR listing on NASDAQ will help to further progress iDreamSky's strategic vision for growth and expansion," said Michael Xiangyu Chen, co-founder, chairman and CEO of iDreamSky. "Working with BNY Mellon to develop a strong ADR program with high visibility and liquidity will ultimately strengthen our brand in new markets throughout the world."
"iDreamSky continues the positive trend of Chinese companies listing via ADRs to gain access to international investors in U.S. markets," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "BNY Mellon will help iDreamSky maximize its full market potential and work closely with them as they seek to meet their strategic growth initiatives."
BNY Mellon acts as depositary for more than 2,800 American and global depositary receipt programs, acting in partnership with leading companies from over 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 investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of June 30, 2014, BNY Mellon had $28.5 trillion in assets under custody and/or administration, and $1.6 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. 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. BNY Mellon provides no advice nor recommendations or endorsement with respect to any company, security or products based on any index licensed by BNY Mellon, and we make no representation regarding the advisability of investing in the same.
Contacts: Joseph F. Ailinger Jr.
SOURCE BNY Mellon