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MiX Telematics lists in New York

15 Aug 2013

MiX Telematics‚ a global leader of fleet and mobile asset management solutions to consumers and commercial fleets of all sizes‚ has listed on the New York Stock Exchange.

It is the first South African domiciled company to list in New York since Sasol listed in 2003 and excludes Sibanye Gold that listed in February this year as part of an unbundling exercise.

MiX Telematics listed by way of American Depositary Receipts (ADRs) with BNY Mellon acting as depositary bank. BNY Mellon acts as depositary bank for all US listed ADR programmes out of South Africa except for one.

Each MiX ADR represents 25 ordinary shares and trades on the New York Stock Exchange under the ticker symbol "MIXT." The company's ordinary shares trade on the Johannesburg Stock Exchange under the symbol "MIX."

"MiX Telematics is a global business serving customers in 112 countries across six continents. The U.S. is an important market for us as we continue to grow our business and investor base‚" said Stefan Joselowitz‚ chief executive of the company.

"The availability of our ADRs on NYSE through a sponsored ADR programme with BNY Mellon is a natural progression in improving our liquidity and increasing our visibility in the capital markets as we continue to accelerate growth," he said.

"We'll work closely with MiX Telematics to enhance its profile among U.S. investors‚" said Christopher M. Kearns‚ chief executive of BNY Mellon's Depositary Receipts business.

"Our team looks forward to providing a tailored suite of services to help MiX unlock the full potential of its new depositary receipts programme."

Source: I-Net Bridge

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