Bank of New York Mellon has been re-appointed by Taiwan-based Compal Electronics, as depositary bank for its sponsored Global Depositary Receipt (GDR) program.
Reportedly, each Compal GDR represents five common shares and trades on the Luxembourg Stock Exchange. The Compal GDRs and common shares have not been registered under the US Securities Act of 1933 and may not be offered or sold in the US.
Michael Cole-Fontayn, CEO of The Bank of New York Mellon’s Depositary Receipt business, said: Being reappointed by Compal proves the success of both our long standing partnership and our efforts to raise Compal’s visibility with international investors.”
