NEW YORK and HONG KONG,
Jan. 17, 2017 /PRNewswire/
-- BNY Mellon, a global leader in investment management and
investment services, has been appointed by WH Group Limited
as depositary bank for its American depositary receipt (ADR)
program, replacing previously unsponsored ADR facilities. Each ADR
represents 20 ordinary shares and trades on the U.S.
over-the-counter market under the symbol, 'WGHPY.' WH Group's
ordinary shares trade on the Hong Kong Stock Exchange under the
code, '288 HK.'
WH Group Limited, an international pork company with market
share in China, the U.S. and
Europe, owns many well-recognized
and trusted brands with key segments of the value chain, including
packaged meats, fresh pork and hog production. The Group conducts
its operations through Henan Shuanghui Investment & Development
Co., Ltd., the animal protein company in Asia, and Smithfield Foods, the U.S. pork
company.
"Given WH Group's significant presence in the U.S. through
Smithfield Foods, its wholly-owned subsidiary, we believe
converting to a sponsored program with BNY Mellon will help us to
further enhance our brand and visibility and diversify our
shareholder base in the long term," said Wan Long, chairman of the board and CEO, WH
Group Limited.
"We look forward to providing a broad range of expertise to help
WH Group enhance their ADR program for U.S. investors," said
Christopher M. Kearns, CEO of BNY
Mellon's Depositary Receipts business.
WH Group is among a number of international companies to convert
from an unsponsored to a sponsored depositary receipt program,
which can add value in terms of enhanced visibility, liquidity, and
other benefits from being serviced by a single depositary bank.
Over the last three years, 20 companies from a dozen countries have
switched to sponsored DR programs with BNY Mellon.[1]
BNY Mellon acts as depositary for more than 2,600 American and
global depositary receipt programs as of Sept. 30, 2016. Acting in partnership with
leading companies from over 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 investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of September 30, 2016, BNY Mellon had $30.5 trillion in assets under custody and/or
administration, and $1.72 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Additional information is available on www.bnymellon.com.
Follow us on Twitter @BNYMellon or visit our newsroom at
www.bnymellon.com/newsroom for the latest company news.
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. BNY Mellon provides no advice nor recommendations or
endorsement with respect to any company, security or products based
on any index licensed by BNY Mellon, and we make no representation
regarding the advisability of investing in the same.
[1] Source: BNY Mellon, www.bnymellon.com/dr
Contact:
Frank Pinto
+1 917-309-1065
frank.pinto@bnymellon.com
Karen Khaw
+852 6390 5165
karen.khaw@bnymellon.com
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SOURCE BNY Mellon