SEOUL, South Korea, March 7, 2011 /PRNewswire/ -- DongA One Co. Ltd (008040:KS)("DongA One" or the "Company"), a leading flour & feeds mill company in Korea, announced today that it has appointed BNY Mellon as the depositary bank for its sponsored American Depositary Receipt (ADR) program. Each ADR will represent 2 common shares of DongA One, currently traded on the Korea Stock Exchange (KOSE) under the ticker "A008040."
"Our appointment of BNY Mellon as depositary bank demonstrates the commitment in our initiatives to expand globally and build a worldwide brand platform," says Mr. Rhee Chang Shik, Chief Executive Officer of DongA One. "By making our shares more accessible to sophisticated and long-term investors, the Company can now offer investment opportunities in its future strategic initiatives such as the development of global grain resources, our pet food business and smart winery solutions. We have been the trusted brand for over 50 years as a dependable leader in the Korean flour and feeds mills industry, and feel we are now well-positioned to allow a direct channel to U.S. investors and further expand our international shareholder base."
About BNY Mellon
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.
About DongA One
Founded in 1953, DongA One is Korea's leading flour mill and animal feed company. The Company's production involves the manufacturing, development, and distribution of its bakery flour and powder, primarily through business-to-business markets. At present, DongA One's flour milling BU processes import wheat, Korea's native wheat, premix, buckwheat, agricultural products, and organic products distribution, with over 400,000 tons of wheat flours produced from factories in Busan and Incheon. DongA One's flour mills BU provides major food processing companies in Korea, including noodle, bread, cookie, and pizza companies with fundamental food materials. DongA One's animal feed industry is divided into feed for chicken, pigs, dog, fish, and pets with facilities in Dangjin and Wonju. DongA One processes and produces high quality products and customized feed formula for its domestic and international markets. For more information, please visit www.dongaone.com.
In connection with the establishment of the Company's ADR Program, a registration statement on Form F-6 under the US Securities Act of 1933 will be filed to register the ADSs representing the Company's common shares. This announcement does not constitute an offer to sell or a solicitation of an offer to purchase any securities of DongA One Co. Ltd. or any depositary receipts in respect of such securities.
Debra Chen (212-837-7798)
SOURCE DongA One Co. Ltd