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."
Select the service that is right for you!
COMPARE ALL SERVICESAction Alerts PLUS
TRY IT FREEJim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
Product Features:
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Dividend Stock Advisor
TRY IT FREENew! $49.95/yr
Jim Cramer's protege, 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
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Stocks Under $10
TRY IT FREEDavid Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.
Product Features:
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
- Weekly roundups
Real Money
TRY IT FREE24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
Product Features:
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
Real Money Pro
TRY IT FREEAll of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
Product Features:
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Options Profits
TRY IT FREEOur options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
Product Features:
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV
