NEW YORK, Sept. 29 /PRNewswire-FirstCall/ -- BNY Mellon, the global leader in asset management and securities servicing, has been selected by Hikma Pharmaceuticals PLC (Hikma) as the depositary bank for its American depositary receipt (ADR) program. Each Hikma ADR represents two ordinary shares and trades on the over-the-counter (OTC) market. Hikma's ordinary shares trade on the London Stock Exchange (LSE) under the symbol "HIK."
Founded in 1978 in Amman, Jordan, Hikma is a generic pharmaceutical company with a presence throughout the Middle East and North Africa region, the United States and Europe. Hikma is dedicated to improving the health and wellbeing of people in the markets it serves through the development, manufacture and marketing of a broad range of solid, liquid and injectable generic and in-licensed pharmaceutical products. Hikma currently sells more than 350 pharmaceutical products in 49 countries.
"The establishment of this ADR program expands our geographical reach and increases our visibility in the U.S.," said Hikma's chief executive officer, Said Darwazah. "We are pleased to be working with BNY Mellon as depositary and are confident they have the resources necessary to help us reach U.S. investors and generate demand for our ADRs."
"As the leading depositary bank in the Middle East, we are pleased to be partnering with Hikma on this transaction," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "We look forward to working with Hikma on a series of customized initiatives designed to facilitate sustained visibility in the U.S. markets and to support its U.S. investor relations initiatives."
BNY Mellon has been conducting business in the Middle East and Africa for nearly 100 years. The company has representative offices in Abu Dhabi, Beirut, Cairo, Dubai, Istanbul and Johannesburg and works with a wide range of banks, governments and other financial institutions throughout the region.
BNY Mellon acts as depositary for more than 2,100 American and global depositary receipt programs, acting in partnership with leading companies from 67 countries. With an unrivalled commitment to helping securities issuers succeed in the world's rapidly evolving financial markets, the Company delivers the industry's most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.bnymellon.com/dr.
BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 34 countries and serving more than 100 markets. The company is a leading provider of financial services for institutions, corporations and high-net-worth individuals, providing superior asset management and wealth management, asset servicing, issuer services, clearing services and treasury services through a worldwide client-focused team. It has $20.7 trillion in assets under custody and administration, $926 billion in assets under management, services more than $11.8 trillion in outstanding debt, and processes global payments averaging $1.8 trillion per day. Additional information is available at bnymellon.com.
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.
SOURCE BNY Mellon