NEW YORK and SÃO PAOLO,
Jan. 5, 2017 /PRNewswire/ -- BNY
Mellon, a global leader in investment management and investment
services, has been appointed by Braskem SA (Braskem) as the
depositary bank for its American depositary receipt (ADR) program.
Each ADR represents two preferred shares and trades on the New York
Stock Exchange (NYSE) under the symbol BAK. Braskem's preferred
shares trade on the BM&F Bovespa under the code BRKM5.
Braskem is the largest manufacturer of thermoplastic resins in
the Americas, with an annual output of over 20 million metric tons,
including other basic chemical and petrochemical products, with an
annual revenue of R$54 billion. With
the aim of creating sustainable solutions in chemistry and
plastics, Braskem is present in over 70 countries, with 8,000
members, and operates 40 industrial units located in Brazil, the United
States, Germany, and
Mexico - the latter in partnership
with the Mexico-based chemical
company, Grupo Idesa, S.A. de C.V.
"We look forward to working closely with Braskem and enhancing
their access to American investors," said Christopher M. Kearns, CEO of BNY Mellon's
Depositary Receipts business. "This program reinforces our strong
position in the Latin American market and our commitment to serving
companies there."
BNY Mellon acts as depositary for more than 2,600 American and
global depositary receipt programs as of Sept. 30, 2016. Acting in partnership with
leading companies from over 65 countries, BNY Mellon is committed
to helping securities issuers access the world's rapidly evolving
financial markets and delivers a comprehensive suite of depositary
receipt services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global investments company dedicated to helping
its clients manage and service their financial assets throughout
the investment lifecycle. Whether providing financial services for
institutions, corporations or individual investors, BNY Mellon
delivers informed investment management and investment services in
35 countries and more than 100 markets. As of Sept. 30, 2016, BNY Mellon had $30.5 trillion in assets under custody and/or
administration, and $1.72 trillion in
assets under management. BNY Mellon can act as a single point of
contact for clients looking to create, trade, hold, manage,
service, distribute or restructure investments. BNY Mellon is the
corporate brand of The Bank of New York Mellon Corporation (NYSE:
BK). Learn more at www.bnymellon.com. Follow us on Twitter
@BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for
the latest company news.
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. BNY Mellon provides no advice nor recommendations or
endorsement with respect to any company, security or products based
on any index licensed by BNY Mellon, and we make no representation
regarding the advisability of investing in the same.
Contact:
Malcolm Borthwick
+44 20 7163 4109
malcolm.borthwick@bnymellon.com
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SOURCE BNY Mellon