NEW YORK, May 24, 2011 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been selected by Etalon Group for its global depositary receipt (GDR) initial public offering. Each Etalon GDR represents one equity share. The shares trade on the London Stock Exchange under the symbol "ETLN." The Etalon GDRs and equity shares have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S., absent registration or an applicable exemption from the registration requirements.
Etalon Group is one of Russia's largest and oldest residential real estate developers. The company's portfolio is focused on large-scale residential complexes, targeting the lower middle class and upper economy class price segments.
"It's an exciting time for us, given the land sourcing opportunities in Russia and expansion capital that we have raised," said Dmitri Boulkhoukov, head of investments at Etalon.
"There have been four DR capital raisings out of Russia this year totaling more than $4 billion, with Etalon Group the largest IPO so far," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipt Division. "We will bring our successful history of working with Russian depositary receipt issuers to support Etalon's efforts to expand its profile among global investors."
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 $25.5 trillion in assets under custody and administration and $1.2 trillion in assets under management, services $11.9 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.
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