Volaris Names BNY Mellon as Depositary for 2013's First Dual-Listed IPO from Mexico on NYSE
NEW YORK, Oct. 2, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Controladora Vuela Compania de Aviacion S.A.P.I. DE C.V. (Volaris) as depositary bank for its American Depositary Receipt (ADR) program in the first dual-listed initial public offering from Mexico this year.
Each Volaris ADR represents 10 Certificados de Participacion Ordinaria (CPOs) and trades on the New York Stock Exchange under the symbol "VLRS." The company's ordinary shares trade on the Mexican Stock Exchange under symbol "VOLAR."
Volaris is a discount airline carrier based in Mexico that targets passengers visiting friends and relatives, cost-conscious business people, and leisure travelers. Since starting operations in 2006, Volaris has increased its routes from five to 80 and grown its Airbus A320 fleet of aircraft from four to 43. The airline operates up to 235 daily flight segments on routes that connect 30 cities in Mexico and 10 cities in the U.S.
"Volaris' decision to make its initial public offering on the NYSE is indicative of rising investor confidence in Mexican companies and their outlook on a growing Mexican economy," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "We'll work closely with Volaris' team to heighten visibility and broaden its outreach to the U.S. investment community."
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