Cencosud selects BNY Mellon as its ADR depository bank
02 July 2012 New York
Image: Shutterstock
Latin American retail conglomerate Cencosud has named BNY Mellon as the depository bank for its American depository receipt (ADR) programme.
Each Cencosud ADR represents three ordinary shares and trades on the New York Stock Exchange.
Cencosud has operations in Argentina, Chile and Peru, and it employs nearly 100,000 people.
“Cencosud is the first listing out of Chile this year and a noteworthy transaction, given global market conditions,” said Michael Cole-Fontayn, the CEO of BNY Mellon's depositary receipts business. “Being appointed depositary for this milestone only reinforces our presence in Latin America, and we look forward to working closely with Cencosud to raise the company's visibility among investors.”
Each Cencosud ADR represents three ordinary shares and trades on the New York Stock Exchange.
Cencosud has operations in Argentina, Chile and Peru, and it employs nearly 100,000 people.
“Cencosud is the first listing out of Chile this year and a noteworthy transaction, given global market conditions,” said Michael Cole-Fontayn, the CEO of BNY Mellon's depositary receipts business. “Being appointed depositary for this milestone only reinforces our presence in Latin America, and we look forward to working closely with Cencosud to raise the company's visibility among investors.”
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