REINACH, Switzerland--(BUSINESS WIRE)--Evolva Holding SA (SIX:EVE) has appointed BNY Mellon, the global leader in investment management and investment services, to set up a Level-1 American Depositary Receipt (ADR) programme.
Each Evolva ADR will represent 10 ordinary shares and trade on the OTC (Over-The-Counter) market in the U.S. Trading in the ADRs is expected to start in the next few weeks. Evolva’s registered common shares continue to trade on the Swiss Stock Exchange (SIX) under the symbol “EVE” (ISIN: CH0021218067). Investors can find information on Evolva’s ADR on www.bnymellon.com/dr. The launch of the ADR programme will not result in an increase in the number of outstanding Evolva shares.
Evolva CFO Jakob Dynnes Hansen commented “This initiative reflects our growing U.S. footprint. We have operations in the San Francisco Bay area; key partners such as Cargill and IFF are headquartered in the U.S.; for many of our products (for example resveratrol and stevia) the U.S. will be an important market. We are proud to have a number of well-reputed U.S. investors already holding our stock and believe these ADRs will make it possible for more U.S. investors to participate in the Evolva story.”
“We look forward to working with Evolva’s management team to build visibility for its new ADR program among the U.S. investment community,” said Marianne Erlandsen, managing director and head of EMEA for BNY Mellon’s depositary receipt business.
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Evolva is a pioneer and global leader in sustainable, fermentation-based approaches to ingredients for health, wellness and nutrition. Evolva’s products include stevia, vanilla, saffron and resveratrol. As well as developing its own proprietary ingredients, Evolva also deploys its technology for partners, providing them with a competitive edge and sharing in the returns they make. For more information see www.evolva.com.
About American Depositary Receipts
American Depositary Receipts (ADR) are U.S. securities that represent shares of a non-U.S. company in the U.S. markets. U.S. investors buy ADRs through their brokers just like any other stock. Brokers have a choice of buying ADRs and/or buying ordinary shares and converting these to ADRs with no delay. Level I ADRs trade in the over-the-counter market. They help to enhance the issuers’ visibility in the U.S. and attract North American investors, reduce shareholder concentration, increase holdings by high-net-worth individuals and retail ownership, and increase liquidity of the stock. For more information on ADRs, visit www.bnymellon.com/dr
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.