NEW YORK, Aug. 22, 2011 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been selected by Tudou Holdings Limited as the depositary bank for its American depositary receipt (ADR) program. Each Tudou ADR represents four ordinary shares and trades on the NASDAQ Exchange under the symbol "TUDO."
Tudou is a leading online video company in China, providing an online platform for Chinese Internet users to upload, share, watch, rate and comment on videos through the Internet. It provides a comprehensive selection of differentiated user-generated content, premium licensed content, and in-house developed content ranging from entertainment and animation to finance and music.
"This ADR program places us side-by-side with our international peers," said, Mr. Gary Wei Wang, founder and chief executive officer of Tudou Holdings Limited. "We look forward to working with BNY Mellon's specialized investor relations advisory group to maximize the visibility our ADR will provide and to target global investors that seek exposure to companies such as Tudou."
"Tudou's listing marks the twelfth DR-based IPO from China this year – which in all have raised more than $2.0 billion in capital – and the ninth for a Chinese technology or Internet firm," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "We look forward to working closely with Tudou to increase their international shareholder base."
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivaled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer 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 $26.3 trillion in assets under custody and administration and $1.3 trillion in assets under management, services $11.8 trillion in outstanding debt and processes global payments averaging $1.7 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 and through 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