Kroton Names BNY Mellon as Depositary for its ADR Program
NEW YORK, Oct. 8, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Kroton Educacional S.A. as depositary bank for its American Depositary Receipt (ADR) program. Each Kroton ADR represents one ordinary share, and trades on the over-the-counter market under the symbol "KROTY."
Kroton Educacional S.A. is one of the largest educational organizations in the world. Operating for over 45 years, Kroton has a nationwide presence in all of Brazil's states, with students in both On-Campus and Distance Learning formats. The company operates in the primary, secondary and post-secondary education segments, offering a variety of learning programs.
"The interest in Kroton from U.S. investors has increased strongly the last few years," said Rodrigo Galindo, CEO of Kroton. "We are committed to broadening our outreach in this important market. The launch of our ADR program will make it easier for an even wider group of U.S. investors to participate in our future performance."
"We'll work closely with Kroton to enhance its profile among U.S. investors," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "Our team looks forward to providing a tailored suite of services to help Kroton unlock the full potential of its new DR program."
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 June 30, 2013, BNY Mellon had $26.2 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). 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.
SOURCE BNY Mellon