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Shoprite launches ADR programme

6 Dec 2013

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.

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

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