BNY Mellon Appointed as Depositary Bank by Hikma Pharmaceuticals PLC
29 September 2009 - 10:00PM
PR Newswire (US)
NEW YORK, Sept. 29 /PRNewswire-FirstCall/ -- BNY Mellon, the global
leader in asset management and securities servicing, has been
selected by Hikma Pharmaceuticals PLC (Hikma) as the depositary
bank for its American depositary receipt (ADR) program. Each Hikma
ADR represents two ordinary shares and trades on the
over-the-counter (OTC) market. Hikma's ordinary shares trade on the
London Stock Exchange (LSE) under the symbol "HIK." Founded in 1978
in Amman, Jordan, Hikma is a generic pharmaceutical company with a
presence throughout the Middle East and North Africa region, the
United States and Europe. Hikma is dedicated to improving the
health and wellbeing of people in the markets it serves through the
development, manufacture and marketing of a broad range of solid,
liquid and injectable generic and in-licensed pharmaceutical
products. Hikma currently sells more than 350 pharmaceutical
products in 49 countries. "The establishment of this ADR program
expands our geographical reach and increases our visibility in the
U.S.," said Hikma's chief executive officer, Said Darwazah. "We are
pleased to be working with BNY Mellon as depositary and are
confident they have the resources necessary to help us reach U.S.
investors and generate demand for our ADRs." "As the leading
depositary bank in the Middle East, we are pleased to be partnering
with Hikma on this transaction," said Michael Cole-Fontayn, chief
executive officer of BNY Mellon's Depositary Receipts business. "We
look forward to working with Hikma on a series of customized
initiatives designed to facilitate sustained visibility in the U.S.
markets and to support its U.S. investor relations initiatives."
BNY Mellon has been conducting business in the Middle East and
Africa for nearly 100 years. The company has representative offices
in Abu Dhabi, Beirut, Cairo, Dubai, Istanbul and Johannesburg and
works with a wide range of banks, governments and other financial
institutions throughout the region. BNY Mellon acts as depositary
for more than 2,100 American and global depositary receipt
programs, acting in partnership with leading companies from 67
countries. With an unrivalled commitment to helping securities
issuers succeed in the world's rapidly evolving financial markets,
the Company delivers the industry's most comprehensive suite of
integrated depositary receipt, corporate trust and stock transfer
services. Additional information is available at
http://www.bnymellon.com/dr. BNY Mellon is the corporate brand of
The Bank of New York Mellon Corporation (NYSE:BK). BNY Mellon is a
global financial services company focused on helping clients manage
and service their financial assets, operating in 34 countries and
serving more than 100 markets. The company is a leading provider of
financial services for institutions, corporations and
high-net-worth individuals, providing superior asset management and
wealth management, asset servicing, issuer services, clearing
services and treasury services through a worldwide client-focused
team. It has $20.7 trillion in assets under custody and
administration, $926 billion in assets under management, services
more than $11.8 trillion in outstanding debt, and processes global
payments averaging $1.8 trillion per day. Additional information is
available at bnymellon.com. 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. DATASOURCE: BNY Mellon CONTACT:
Dori Flanagan, +1-212-815-2291, ; Joe Ailinger, +1 617-722-7571,
Web Site: http://www.bnymellon.com/dr
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