BNY Mellon Appointed as Depositary Bank by Carlsberg A/S
NEW YORK, Feb. 26 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has been appointed by Carlsberg A/S (Carlsberg) as depositary for its sponsored American depositary receipt (ADR) program. Carlsberg's ADR program was previously unsponsored, serviced by multiple depositaries. Five Carlsberg ADRs represent one Carlsberg ordinary share. The ADRs trade on the over-the-counter (OTC) market in the U.S. under the symbol "CABGY." The ordinary shares trade on Copenhagen NASDAQ OMX under the symbol "CARL B."
Carlsberg is one of the world's largest brewery groups with a comprehensive brand portfolio that includes four out of the 10 largest European beer brands. The total beer portfolio includes more than 500 brands, such as Carlsberg, Baltika, Tuborg and Kronenbourg. Carlsberg is the second-largest brewing group in Western Europe, number one in Eastern Europe, and has strong market positions in Asia. Carlsberg is a constituent stock of MSCI Pan-Euro, FTSE Euro First, and Dow Jones Nordic 30.
"Carlsberg has for many years had a sizeable shareholder base in the U.S., and we believe establishment of the sponsored ADR program will be a valuable service for our existing and potential new U.S. shareholders," said Jorn P. Jensen, Carlsberg's deputy chief executive officer and chief financial officer.
"Carlsberg joins a growing number of companies moving from an unsponsored to sponsored ADR program for the benefits it brings in terms of exposure and service," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "Carlsberg's decision to convert to a sponsored program exhibits long-term vision and commitment to the U.S. capital markets and investors. We look forward to supporting management's efforts to build a successful and liquid ADR program."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Learn more at www.bnymellon.com/dr.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $22.3 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $12 trillion in outstanding debt, and processes global payments averaging $1.6 trillion per day. More information is available at bnymellon.com.
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.
SOURCE BNY Mellon
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article