NEW YORK and SÃO PAULO, March 23, 2016 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Raia Drogasil S.A. as depositary bank for its sponsored American depositary receipt (ADR) program. Each ADR represents one ordinary share and trades on the U.S. over-the-counter market under the symbol 'RADLY.' Raia Drogasil's ordinary shares trade on the BM&FBOVESPA under the code 'RADL3.'
Raia Drogasil is the largest drugstore chain and eighth largest retailer in Brazil. It offers clients a full range of products, from prescription drugs to hygiene and personal care items in over 1,200 stores across 17 states, representing nearly 90% of the Brazilian retail pharmacy market. Headquartered in São Paulo, Raia Drogasil was established in 2011 through a merger between Raia S.A. and Drogasil S.A., which together have more than 190 years of history in the country.*
"Our DR program aims at improving the company's visibility in the capital markets, enhancing liquidity, increasing the shareholder base, and facilitating access to the stock by foreign investors," said Eugenio de Zagottis, corporate planning and investor relations officer at Raia Drogasil.
"As they look to raise their profile with the global investment community, we'll work closely with Raia Drogasil to build a highly targeted outreach program," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "We have a rich history and broad expertise in Brazil. Raia Drogasil joins a long list of Brazilian companies who have placed their confidence in BNY Mellon as their depositary bank."
BNY Mellon established the first DR program in Brazil in 1992 and has grown its team of Portuguese-speaking specialists, who today provide cross-border support for the majority of the country's DR issuers across all industry sectors.
BNY Mellon acts as depositary for more than 2,600 American and global depositary receipt programs as of December 31, 2015. 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 Dec. 31, 2015, BNY Mellon had $28.9 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/newsroom.
*Source: Company website, http://www.raiadrogasil.com.br/Default.aspx?linguagem=en#
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.
SOURCE BNY Mellon