INQUIRER.net: SM launches American depositary receipts

INQUIRER.net Philippine News for Filipinos

SM launches American depositary receipts Jul 30th 2013, 00:10 MANILA, Philippines--Tycoon Henry Sy-led SM Investments Corp. has rolled out to the US market an entry-level American depositary receipts program, allowing US investors to trade over-the-counter in their own time zone instruments with equity in the Philippines largest conglomerate as underlying papers. Under the program launched through depositary The Bank of New York Mellon, ADR securities issued in the US representing SM common shares can be traded over-the-counter under the ticker symbol SMIVY. One SM ADR represents 0.5 common shares of SM, the conglomerate announced Monday night. "We are delighted to work hand in hand with BNY Mellon through this sponsored ADR program which... Keep on reading: SM launches American depositary receipts Media files: henry-sy.jpg (image/jpeg)

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