Deutsche Post DHL establishes sponsored American Depositary Receipt (ADR) programBonn, 12/07/2009
The world’s leading postal and logistics services group, Deutsche Post DHL announced that it has established a sponsored Level 1 American Depository Receipt (ADR) program to facilitate investment from investors in the US market. ADRs represent deposited ordinary shares. They enable investors to obtain an indirect holding in Deutsche Post DHL via US registered securities. Under the ticker symbol DPSGY over-the-counter (OTC) trading of the Deutsche Post DHL ADRs will start today. Each ADR represents one ordinary share of Deutsche Post DHL. The company’s ordinary shares will continue to trade on the XETRA electronic trading system and on all German stock exchanges.
“We are seeing significant interest in our stock from US investors with a considerable percentage of our shares already being held in the US market,” commented Larry Rosen, CFO of Deutsche Post DHL. “The establishment of the ADR facility will support us in our efforts to further strengthen our relationship with US based shareholders and enable a broader range of investors to participate in the Group and its future development.”
The ADR program gives US investors the opportunity to acquire a holding in Deutsche Post DHL and at the same time to buy OTC share certificates representing negotiable US securities. Trading and settlement of the ADRs takes place OTC in the US clearing system. ADRs are traded in US$. Dividend payments to the ADR holders will also be made in US$ .The Bank of New York Mellon has been appointed as the depositary bank to administer the ADR program.
ADRs are offered by The Bank of New York Mellon and not Deutsche Post DHL. In particular, ADRs are not publicly offered in Germany.