Home > Press > Nanostart AG making preparations for ADR trading in the United States
Abstract:
* ADR program with Bank of New York Mellon now active
* Commencement of trading imminent
* Focus on US capital market
Nanostart AG is making preparations for ADR trading in the United States, which is scheduled to begin in October. Bank of New York Mellon (BNYM), one of the world's largest depositary banks, is providing active support during the process. Entry into the US capital market will accommodate growing interest in Nanostart on Wall Street. BNY Mellon has already initiated an ADR program for Nanostart. The next step will be the commencement of Nanostart ADR trading on the OTCQX market within the next few weeks.
ADRs (American Depositary Receipts) are certificates issued by a US bank that securitize ownership of stocks in a company. ADRs are traded as shares of the company in the United States.
Depositary bank for the Nanostart ADRs is Bank of New York Mellon, which employs over 40,000 people in 36 countries and reports assets of nearly 1.0 billion US dollars. Trading center for Nanostart ADRs is anticipated to be the OTCQX market.
The young and emergent OTCQX market provides US investors with a trading platform that allows convenient access to foreign companies and ensures transparent trading as well as assurance of comprehensive information. In addition, companies traded there are not subject to the high costs associated with a listing on other American markets. OTCQX is now the home of numerous international corporations, including many DAX-listed companies such as Adidas, Allianz, and BASF.
"We look forward to helping Nanostart unlock the investment potential of the US investor community," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "Senior executives at Nanostart have been highly collaborative in their approach to accessing the US capital markets and we believe this will translate well to potential investors. As the world's leading depositary, BNY Mellon will utilize its many resources to develop a mutually beneficial partnership between our respective organizations."
The Nanostart ADR program is described as a sponsored ADR Level 1 program. Ten Nanostart ADRs correspond to one Nanostart share. ADRs are denominated in US dollars. With an annual volume of approximately 18 billion dollars, the US capital market is by far the largest capital market in the world.
The ADRs are not offered by Nanostart AG. ADRs are not offered publicly in Germany.
Disclaimer:
This notice constitutes neither an offer to sell nor a solicitation of offers to purchase or subscribe to securities. There will be no public offering of securities of Nanostart AG in conjunction with the existing listing of its shares in the "Entry Standard" segment of the regulated unofficial market (Freiverkehr) on the Frankfurt Stock Exchange. This notice does not constitute a securities prospectus. Neither this notice nor the information contained within is intended for direct or indirect distribution within Canada, Australia or Japan.
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Contacts:
Media contact:
Nanostart AG
Public Relations
Dr. Hans Joachim Dürr
Goethestraße 26-28
D-60313 Frankfurt am Main
Tel: +49 69-21 93 96 111
Fax: +49 69-21 93 96 122
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