This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

BNY Mellon Appointed As Depositary Bank By Mr Price Group

NEW YORK, July 3, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Mr Price Group as the depositary bank for its sponsored depositary receipt (DR) program.  Previously, Mr Price Group traded as an unsponsored DR program.  Each Mr Price Group DR represents one ordinary share and trades on the OTC market in the U.S. under the symbol "MRPLY."  Mr Price Group's ordinary shares trade on the Johannesburg Stock Exchange (JSE) under the symbol "MPC."

Headquartered in Durban, South Africa, Mr Price Group is a fashion value retailer of apparel, homeware and sportswear.  The company operates apparel stores under the Mr Price Apparel, Mr Price Sport, and Miladys brands; and home products stores under the Mr Price Home and Sheet Street brands.  It operates 937 stores in Southern Africa and 24 franchised stores in Africa.

"We are delighted to partner with BNY Mellon in establishing a sponsored DR program and to be traded on the U.S. OTC market," said Mark Blair, CFO of Mr Price Group.  "As we expand our growth into key markets outside of South Africa, the DR program is an exciting new source of potential investors."                                                                

Currently, 36 of the Johannesburg Stock Exchange 'Top 40' constituents, by market cap, have a DR program.  BNY Mellon is depositary for 30 of those.  Mr Price Group is the second appointment of BNY Mellon as depositary by a South African company in the last month.

"We look forward to helping Mr Price Group unlock the potential of the U.S. investment community," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business.  "As the world's leading depositary, BNY Mellon will utilize its many resources to develop a mutually beneficial partnership with the company and its investors."

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs