NEW YORK, June 14, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Sun International Limited as the depositary bank for its American depositary receipt (ADR) program. Each Sun International ADR represents one ordinary share and trades on the OTC market in the U.S. under the symbol "SVUVY." Sun International's ordinary shares trade on the Johannesburg Stock Exchange (JSE) under the symbol "SUI."
Headquartered in Sandton, South Africa, Sun International invests in and manages businesses in the hotel, resort and gaming industries. It focuses on the development, management and operation of hotels, resorts and casinos in South Africa, other parts of Africa, and South America.
"We are delighted to partner with BNY Mellon in establishing a Sun International ADR program and to be traded on the U.S. OTC market," said Rob Becker, CFO of Sun International. "This is a key initiative in building offshore market awareness of Sun International as we look to grow our business in international markets and facilitate a new source of potential investors in our company."
Currently, 22 of the Johannesburg Stock Exchange 'Top 40' constituents, by market cap, have a sponsored DR program. BNY Mellon is depositary for 16 of those."By establishing its new DR program, Sun International has confirmed its commitment to attracting greater investment from the U.S. market," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "We look forward to supporting management's efforts to build a successful and liquid program and enhance Sun International visibility with the global investor community." 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 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV