First French firm to benefit from U.S. JOBS Act in raising capital
NEW YORK, November 4, 2013 — BNY Mellon, the global leader in investment management and investment services, has been appointed by Criteo S.A. as depositary bank for its American depositary receipt (ADR) program in the first French initial public offering in the U.S. since 2011. Each Criteo ADR represents one ordinary share and trades on NASDAQ under the symbol "CRTO."
Criteo is the first French company to benefit from the U.S. JOBS Act, which eases the regulatory burdens on non-U.S. privately owned companies with less than $1 billion in annual revenue seeking to list and raise capital in the U.S. Under the JOBS Act, such issuers may take advantage of relaxed disclosure and audit reporting requirements for up to five years, among other regulatory changes.
Criteo is a global leader in digital performance display advertising, working with over 4,000 e-commerce companies around the world. Criteo has more than 700 employees in offices across the U.S., Europe and Asia, serving 37 countries.
"Criteo's listing on NASDAQ signals both a return of French IPOs to the U.S. and the incentive to foreign firms provided by the JOBS Act," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "Criteo is an excellent example of companies that are developing innovative new technologies for their industries. We look forward to working closely with Criteo's management to build out their ADR program and investor relations strategy."
BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs, acting in partnership with leading companies from 68 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, 2013, BNY Mellon had $27.4 trillion in assets under custody and/or administration, and $1.5 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 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.