Evolva to set up Level-1 American Depositary Receipt programme
Published on January 9, 2014 at 3:08 AM
Evolva Holding SA (SIX:EVE) has appointed BNY Mellon, the global leader in investment management and investment services, to set up a Level-1 American Depositary Receipt (ADR) programme.
Each Evolva ADR will represent 10 ordinary shares and trade on the OTC (Over-The-Counter) market in the U.S. Trading in the ADRs is expected to start in the next few weeks. Evolva's registered common shares continue to trade on the Swiss Stock Exchange (SIX) under the symbol "EVE" (ISIN: CH0021218067). Investors can find information on Evolva's ADR on www.bnymellon.com/dr. The launch of the ADR programme will not result in an increase in the number of outstanding Evolva shares.
Evolva CFO Jakob Dynnes Hansen commented "This initiative reflects our growing U.S. footprint. We have operations in the San Francisco Bay area; key partners such as Cargill and IFF are headquartered in the U.S.; for many of our products (for example resveratrol and stevia) the U.S. will be an important market. We are proud to have a number of well-reputed U.S. investors already holding our stock and believe these ADRs will make it possible for more U.S. investors to participate in the Evolva story."
"We look forward to working with Evolva's management team to build visibility for its new ADR program among the U.S. investment community," said Marianne Erlandsen, managing director and head of EMEA for BNY Mellon's depositary receipt business.