NEW YORK, July 29, 2013 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by SM Investments Corporation as depositary bank for its sponsored American Depositary Receipt (ADR) program. Two SM Investments Corporation ADRs represent one ordinary share and trade on the over-the-counter market under the ticker symbol "SMIVY." The company's ordinary shares trade on the Philippine Stock Exchange under the symbol "SM."
SM Investments Corporation is the holding company of the Philippines-based SM Group, with principal activities of retailing and wholesaling merchandise. It is engaged in shopping mall development and management, retail store operations, real estate development, banking and finance, and tourism.
"We are delighted to partner with BNY Mellon in establishing a sponsored ADR program," said Corazon P. Guidote, senior vice president for investor relations at SM Investments Corporation. "We are encouraged by the recent credit upgrade of the Philippines to investment grade and the corresponding increased attention that Filipino companies are attracting from global investors. We look forward to expanding our visibility and investor base in the global capital markets via this ADR program."
"We'll work closely with SM Investments Corporation 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 looks forward to providing a comprehensive suite of support services, allowing the company 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 June 30, 2013, BNY Mellon had $26.2 trillion in assets under custody and/or administration, and $1.4 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 on 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.
SOURCE BNY Mellon