UK-based mining giant Anglo American plc has named BNY Mellon as depositary bank for its sponsored American depositary receipt (ADR) programme, replacing a previously unsponsored facility.
Said Rene Medori, Anglo American’s Finance Director: “Converting to a sponsored ADR programme will facilitate investment in Anglo American from US investors in response to demand for such a facility, while serving to further broaden our shareholder base over the long term.”
Anglo American had one of the UK’s largest unsponsored ADRs, said Christopher M Kearns, CEO of BNY Mellon’s Depositary Receipts business. “Sponsored ADRs can create added visibility and other benefits for non-US companies,” he added. “Our sector expertise includes having worked with numerous mining companies listed in the UK, Australia, South Africa and Russia.”