This Day On The Street
Continue to site right-arrow
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
TheStreet Open House

BNY Mellon Appointed As Depositary For China Mobile Games And Entertainment Group Limited's ADR Program

NEW YORK, Oct. 16, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by China Mobile Games and Entertainment Group Limited (CMGE) for its American Depositary Receipt (ADR) program in connection with its spin-off from VODOne Limited, a Chinese state-affiliated media company.  Each CMGE ADR represents 14 ordinary shares and trades on the NASDAQ under the symbol "CMGE." 

CMGE is a leading mobile game company in China focused on the development, operation and distribution of feature phone games and smart-phone games.  The company has approximately 30 million paying users and over 9 million monthly subscriptions in China.  The company was incorporated under the laws of the Cayman Islands on January 20, 2011 as a wholly-owned subsidiary of VODOne.

"We believe listing on NASDAQ and gaining access to U.S. capital markets will support our strategic efforts to strengthen the potential value of our business," said Ken Jian Xiao, CEO of China Mobile Games and Entertainment Group Limited.  "BNY Mellon has demonstrated its DR expertise and thought leadership, working with us and NASDAQ to execute our listing via a special dividend distribution to VODOne's ordinary shareholders.  We're impressed with BNY Mellon's capabilities and look forward to expanding our partnership."

"By establishing a DR program for CMGE and listing it on NASDAQ, VODOne has made a compelling affirmation of both depositary receipts and U.S. listings for non-U.S. firms in the mobile gaming and e-commerce sectors," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business.  "This transaction is a clear example of BNY Mellon collaborating with a global issuer that has unique strategic and structural objectives it seeks to achieve with its listing.  We'll continue to work closely with management to enhance CMGE's visibility among global 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
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs