NEW YORK, June 19, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Severn Trent Plc as sponsored depositary bank for its American Depositary Receipt (ADR) program. Previously, Severn Trent traded as an unsponsored ADR program serviced by multiple depositaries. Each Severn Trent ADR represents one ordinary share and trades on the OTCQX platform under the symbol "STRNY." Severn Trent's local shares trade on the London Stock Exchange under the code "SVT" and are a constituent of the FTSE 100 share index.
Severn Trent has two businesses: Severn Trent Water, which provides water and sewerage services to 4.2 million households and businesses in the U.K., and Severn Trent Services, a U.S.-headquartered supplier of water and waste water treatment solutions with a growing presence in North America, Europe, the Middle East and Asia.
"We established this sponsored ADR to enhance our U.S. investor relations efforts," said John Crosse, head of investor relations for Severn Trent. "We look forward to working with BNY Mellon's staff as they help us expand our shareholder base and visibility in the U.S. capital market."
"We'll work closely with Severn Trent's management team to help it realize the added benefits of a sponsored ADR program," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "Global investors can now access 85% of the FTSE 100 constituents in ADR form, offering them an easy and efficient way to trade the large companies which comprise that index."
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