BNY Mellon now serves as depositary bank for over half of all sponsored ADRs for U.K. companies
NEW YORK, Nov. 19, 2015 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Anglo American plc as depositary bank for its sponsored American depositary receipt (ADR) program, replacing a previously unsponsored facility. The ADRs will continue to trade on the U.S. over-the-counter market under the new symbol 'NGLOY.'
Based in the United Kingdom, Anglo American is engaged in the exploration, mining, processing and smelting of platinum, diamonds, iron ore, coal, copper, nickel and zinc. The company's predominant focus is on precious metals and minerals (platinum and diamonds) with a portfolio of businesses that includes base metals (copper and nickel) and bulk commodities (iron ore, metallurgical coal and thermal coal). Anglo American's operations and pipeline of projects are located in southern Africa, South America, Australia, North America and Asia.
"Converting to a sponsored ADR program will facilitate investment in Anglo American from U.S. investors in response to demand for such a facility, while serving to further broaden our shareholder base over the long term," said Rene Medori, finance director from Anglo American.
"Anglo American had one of the U.K.'s largest unsponsored ADRs, and we look forward to working with them to help transition to a sponsored program," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "Sponsored ADRs can create added visibility and other benefits for non-U.S. companies. Our sector expertise includes having worked with numerous mining companies listed in the U.K., Australia, South Africa and Russia."
BNY Mellon acts as depositary bank for 56% of U.K. sponsored programs1 and as depositary for more than 2,700 American and global depositary receipt programs worldwide as of September 30, 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 Sept. 30, 2015, 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. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.
1Data from BNY Mellon and other depositary websites as of October 9, 2015
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.
Joseph F. Ailinger Jr
+44 (0)20 7163 4109
SOURCE BNY Mellon