NEW YORK, April 25, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed as sponsored depositary bank by David Jones Limited for the company's American depositary receipt (ADR) program. Previously, David Jones traded as an unsponsored ADR program serviced by multiple depositaries. Each David Jones ADR represents one ordinary share and trades on the U.S. over-the-counter market under the symbol "DJNTY." David Jones' ordinary shares trade on the Australian Stock Exchange under the symbol "DJS."
Established in 1838, David Jones is Australia's oldest department store brand and the oldest department store in the world trading under its original name. David Jones is one of Australia's leading contemporary branded department stores, with a network of 36 stores across the country and flagship properties in Sydney and Melbourne.
"The establishment of our sponsored ADR program meets the growing U.S. investor demand for our security," said Helen Karlis, general manager of investor relations and corporate affairs for David Jones. "As our international capital markets needs continue to develop, we are confident BNY Mellon's expertise will be invaluable in helping us to diversify our U.S. shareholder base and maximizing the visibility of our DR program."
David Jones is the 28th sponsored DR program created for an Australia-based company in the last 12 months, including last week's listing of Prima BioMed on NASDAQ. BNY Mellon has been named depositary for 27 of those listings.
"U.S. investors continue to seek diversified returns and Australia offers a wide range of options across industries," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "Our team of experts looks forward to providing David Jones with a comprehensive suite of support services, allowing the firm to unlock the full potential of its DR program."
BNY Mellon acts as depositary for more than 2,500 American and global depositary receipt programs, acting in partnership with leading companies from 65 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 financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $26.6 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.9 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on [email protected]
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