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    Shoprite launches ADR programme

    Retailer Shoprite Holdings (SHP) has launched a sponsored American depository receipt (ADR) programme on the US over-the-counter market through Bank of New York Mellon‚ the company said on Thursday, 5 December 2013.
    Shoprite launches ADR programme

    Each depository receipt in the ADR programme represented one ordinary share in Shoprite Holdings and traded under the symbol SRGHY.

    Shoprite said it had a growing international ownership base‚ which over the past five years had grown to more than 50% of the total shareholder base‚ with US investors representing about 62% of these international investors - the largest investor base by country.

    Shoprite said it hoped the ADR programme would make investing in the company accessible to more international investors‚ particularly US investors.

    Source: I-Net Bridge

    For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

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    Go to: http://www.inet.co.za
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