NEW YORK and SINGAPORE, Oct. 28, 2014 /PRNewswire/ -- BNY Mellon, a global leader in investment management and investment services, has been appointed by MOL Global, Inc. as depositary bank for its American depositary receipt (ADR) program, the first exchange-listed ADR program from Malaysia. Each MOL Global ADR represents one (1) ordinary share and trades on NASDAQ under the symbol "MOLG."
An e-commerce leader in Southeast Asia, MOL Global develops online media platforms and operates online payment systems. According to Frost & Sullivan, MOL Global is the largest alternative e-payment facilitator for online digital goods and services by payment volume in Southeast Asia.
"MOL Global's ADR listing on NASDAQ is a critical part of our strategy to expand our business globally," said Ganesh Kumar Bangah, group chief executive officer of MOL Global. "BNY Mellon's platform will support our efforts to build a strong and visible ADR program and to access global investors."
"This offering from MOL Global continues the trend of international technology firms using ADRs to list in the U.S. and demonstrates to other ASEAN companies that an ADR listing on a U.S. exchange can create fresh opportunities," said Neil Atkinson, head of BNY Mellon's Depositary Receipts business in Asia-Pacific. "After Alibaba's historic ADR listing, we expect to see more IPO activity from the Asia-Pacific region from companies looking to access global markets."
So far this year, companies have raised more than $36 billion via 53 transactions using ADRs in U.S. markets, up from 51 transactions that brought in $10.4 billion in all of 2013.
BNY Mellon acts as depositary for more than 2,800 American and global depositary receipt programs, acting in partnership with leading companies from over 65 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 Sept. 30, 2014, BNY Mellon had $28.3 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