|By PR Newswire||
|February 24, 2014 07:00 AM EST||
NEW YORK, Feb. 24, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Qantas Airways Limited as depositary bank for its American Depositary Receipt (ADR) program. Each Qantas ADR represents 10 ordinary shares and trades over-the-counter under the symbol "QABSY." Qantas' ordinary shares trade on the Australian Securities Exchange under the symbol "QAN."
Qantas is Australia's largest international and domestic air carrier, providing passenger and freight services under the Qantas and Jetstar airline brands. It also operates subsidiary businesses, including Qantas Frequent Flyer – Australia's largest loyalty program – and holds investments in Jetstar-branded airlines including Jetstar Asia and Jetstar Japan.
"The U.S. is a key strategic market for Qantas, both operationally and in terms of our existing shareholder base," said Qantas Chief Financial Officer, Gareth Evans. "We aim to expand our visibility and investor base in the global capital markets via this Level I ADR program with BNY Mellon."
"We look forward to working closely with Qantas' team to broaden its outreach to the U.S. investment community," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "Our team of experts will provide a comprehensive suite of support services, enabling Qantas to unlock the full potential of its new DR program."
BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs, acting in partnership with leading companies from 68 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 Dec. 31, 2013, BNY Mellon had $27.6 trillion in assets under custody and/or administration, and $1.6 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). Learn more at www.bnymellon.com, or follow us on Twitter @BNYMellon.
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.
Joseph F. Ailinger Jr.
SOURCE BNY Mellon
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