NEW YORK, Feb. 3, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by Chr. Hansen as depositary bank for its sponsored American depositary receipt (ADR) program. Previously, the company traded in the U.S. over-the-counter (OTC) market as an unsponsored DR. Each Chr. Hansen ADR represents one-half of an ordinary share and trades OTC under the symbol "CHYHY." Chr. Hansen's ordinary shares trade on the NASDAQ OMX under the symbol "CHR."
Founded in 1874, Chr. Hansen is a global bioscience company that develops natural ingredient solutions for the food, nutritional, pharmaceutical and agricultural industries. Products include cultures, enzymes, probiotics and natural colors. All solutions are based on strong research and development competencies, coupled with significant technology investments. The company has more than 2,500 employees in 30 countries and main production facilities in Denmark, France, the U.S. and Germany.
"Chr. Hansen has been in the U.S. for more than 100 years, primarily serving the dairy markets," said Klaus Pedersen, CFO of Chr. Hansen Holding A/S. "Following our IPO in 2010, we have seen increasing interest from U.S.-based investors. With this sponsored ADR program we show our commitment to this market by providing a convenient way to invest in Chr. Hansen."
"We look forward to supporting Chr. Hansen and enhancing their access to American investors," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "We'll work closely with the company's management team on a customized outreach program to help them realize the added benefits of this new sponsored ADR."
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.
SOURCE BNY Mellon