BNY Mellon has been appointed by WH Group as depositary bank for its American depositary receipt (ADR) programme, replacing previously unsponsored ADR facilities.
Each ADR represents 20 ordinary shares and trades on the US over-the-counter market under the symbol, WGHPY.
WH Group’s ordinary shares trade on the Hong Kong Stock Exchange under the code, 288 HK.
WH Group, an international pork company with market share in China, the US and Europe, owns many well-recognised brands with key segments of the value chain, including packaged meats, fresh pork and hog production. The group conducts its operations through Henan Shuanghui Investment & Development, the animal protein company in Asia, and Smithfield Foods, the US pork company.
"Given WH Group’s significant presence in the US through Smithfield Foods, its wholly-owned subsidiary, we believe converting to a sponsored program with BNY Mellon will help us to further enhance our brand and visibility and diversify our shareholder base in the long term," says Wan Long, chairman of the board and CEO, WH Group Limited.
"We look forward to providing a broad range of expertise to help WH Group enhance their ADR programme for US investors," says Christopher M Kearns (pictured), CEO of BNY Mellon's depositary receipts business.
