LONDON, April 18, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, announces Vodafone has reached the milestone of one billion depositary receipts (DRs) outstanding. Vodafone currently has the largest number of DRs outstanding of any Western European company and of any telecom company in the world1.
BNY Mellon serves as the depositary bank for Vodafone's American Depositary Receipt (ADR) programme, listed and traded in U.S. dollar-denominated form on the NASDAQ stock exchange under the symbol "VOD".
The Western European companies with the largest number of DRs outstanding after Vodafone are BP, Nokia, Royal Dutch Shell and GlaxoSmithKline1.
Andy Halford, Chief Financial Officer at Vodafone, said: "We have made the DR a core part of our investor relations strategy, as we seek to grow ownership of Vodafone among domestic and international funds in the U.S. Over 20 per cent of Vodafone shares are now held through depositary receipts, reflecting the appetite in the U.S. for stocks with attractive dividend yields and strong exposure to the U.S. market. BNY Mellon, our depositary bank, has been an outstanding partner, providing consistently great service to us and our U.S. based investors."
Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business, said: "We'd like to congratulate Vodafone on reaching this significant milestone. It's a testament to the popularity of DRs, both for companies that want to list their shares on global markets and for investors looking to diversify their portfolio outside of their home market. Vodafone joins a select few firms that comprise the 'Billion DRs Club'."
1 Source: Bloomberg and Issuers' Form 20-F for 2012 year-end filed with the U.S. SEC
Notes to editors:
BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programmes, 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 36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or administration and $1.4 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). Additional information is available on www.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.
This press release is issued by The Bank of New York Mellon to members of the financial press and media.
All information and figures source BNY Mellon unless otherwise stated as at December 31, 2012.
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SOURCE BNY Mellon