BNY Mellon Appointed as Depositary Bank by China New Borun Corporation

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Jul 06, 2010, 09:36 ET

NEW YORK, July 6 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has been selected by China New Borun Corporation (Borun) as the depositary bank for its American depositary receipt (ADR) program. Each Borun ADR represents one ordinary share and trades on the New York Stock Exchange under the symbol "BORN."

Borun is a leading producer and distributor of corn-based edible alcohol in China for use by producers of Chinese alcoholic beverages. Borun also produces DDGS Feed and corn germ as by-products and is involved in the process of constructing facilities to produce liquid carbon dioxide from waste carbon dioxide produced during the alcohol production process. Borun owns and operates two facilities in Shandong and Heilongjiang Provinces with current annual production capacity of 260,000 tons of corn-based alcohol.

"By establishing this ADR program we will have better access to the international capital markets for our company by maximizing U.S. investor interest in Chinese investment opportunities," said, Mr. Jinmiao Wang, chief executive officer of Borun. "We look forward to working with BNY Mellon and are confident that as the world's leading depositary bank, it has the expertise, scale and stability to effectively support our investor outreach initiatives and grow demand for our ADRs."

"Chinese companies continue to raise capital in the U.S. via ADRs," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "Borun is an excellent example of the recent group of Chinese companies that are developing innovative new technologies for their industries."

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 $22.4 trillion in assets under custody and administration, $1.1 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.5 trillion per day. Learn more at www.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