The Bank of New York Mellon has been selected by Banco Daycoval as the depositary bank for its American depositary receipt program.
Each Banco Daycoval American depositary receipt (ADR) represents two preferred shares.
Michael Cole-Fontayn, CEO of The Bank of New York Mellon’s depositary receipt division, said: The Bank of New York Mellon serves as trustee for Banco Daycoval’s international debt facilities and we are pleased to expand our relationship with this appointment as depositary. We will help Daycoval replicate its successful track record in the US fixed-income market, this time for US equity investors.
Morris Dayan, investor relations officer of Banco Daycoval, said: This is an important milestone for Banco Daycoval, as a level I ADR program will provide US investors with easy access to our shares as well as our success story. As we entered the US capital markets, we wanted the support of a very qualified depositary and chose The Bank of New York Mellon.