NEW YORK, Aug. 14, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by MiX Telematics Limited as depositary bank for its sponsored American Depositary Receipt (ADR) program. Each MiX ADR represents 25 ordinary shares and trades on the New York Stock Exchange under the ticker symbol "MIXT." The company's ordinary shares trade on the Johannesburg Stock Exchange under the symbol "MIX."
MiX Telematics is a global leader of fleet and mobile asset management solutions to consumers and commercial fleets of all sizes. Originally established in 1996, MiX listed as a public company in South Africa in November 2007 and has a strong international heritage.
"MiX Telematics is a global business serving customers in 112 countries across six continents. The U.S. is an important market for us as we continue to grow our business and investor base," said Stefan Joselowitz, CEO of MiX. "The availability of our ADRs on NYSE through a sponsored ADR program with BNY Mellon is a natural next step in improving our liquidity and increasing our visibility in the capital markets as we continue to accelerate growth."
"We'll work closely with MiX Telematics 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 MiX 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 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.
SOURCE BNY Mellon