Myer Holdings Limited (‘Myer’) has established a Sponsored Level I American Depositary Receipt (ADR) program managed by Deutsche Bank Trust Company Americas.
Myer ADRs trade in the United States over the counter (OTC) market via brokers under the code ‘MYRSY’ and are classified as Level I. One ADR represents four existing ordinary Myer shares. They are not listed on an exchange and are only traded over-the-counter.
Frequently Asked Questions
What is an ADR?
An ADR is a negotiable US certificate representing ownership of existing shares in a non-US company. They are priced and pay dividends in US dollars and were specifically designed to facilitate the purchase, holding and sale of non-US securities by US investors. Myer’s ADR program does not involve the issuance of new shares or the raising of new capital.
Why has Myer established an ADR program?
Myer established a Sponsored Level I ADR program to make it easier for US investors to invest in Myer by enabling them to purchase shares without the need for cross-border or cross-currency transactions.
What is an ADR ratio?
The ADR ratio defines the numeric relationship between the number of ADRs and the number of ordinary shares. One Myer ADR represents four ordinary Myer shares.
Where are Myer ADRs traded?
Myer ADRs are traded over-the-counter (OTC) on the electronic market operated by OTCMarkets. OTCMarkets is a decentralised market for securities that are not listed on a stock exchange. For more information, visit
www.otcmarkets.comOpens in new window.
Who is Myer’s depositary bank for ADRs?
Deutsche Bank Trust Company Americas is the depositary bank for Myer’s ADR program.