BNY Mellon today announced that it has been appointed by Linx S.A. (Linx), a Brazilian retail software company, as depositary bank for its American depositary receipt (ADR) program. Each Linx ADR represents one ordinary share and is trading on the New York Stock Exchange (NYSE) under the symbol “LINX.” This is the first Level III ADR program that has been established for a Brazilian issuer since 2017.
Linx designs and develops fully integrated management, digital and financial solutions for retail businesses, delivering an end to end platform to its client. Linx serves department stores, gas stations, car dealers, e-commerce, pharmacy, laundry, fashion, and food service retailers. Linx has approximately 3400 employees and 16 offices in Brazil. It is present across 5 Latin American countries and has clients in more than 16 countries.
"Linx’s listing on the NYSE through this ADR program is an important step in our company's strategy," said Alexandre Kelemen, Investor Relations Officer at Linx S.A. “The DR program aims at improving the company’s visibility in the capital markets, enhancing liquidity, increasing the shareholder base, and facilitating access to the stock by foreign investors.”
"We are excited to welcome Linx to BNY Mellon’s depositary receipts group,” said Chris Kearns, CEO of BNY Mellon’s Depositary Receipts business. “BNY Mellon has a long history of working with global issuers and is committed to further enhancing their visibility and access to the U.S. capital markets.”
BNY Mellon acts as depositary for 763 sponsored American and global depositary receipt programs as of June 30, 2019. Acting in partnership with leading companies from over 56 countries, BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services.
About BNY Mellon
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries. As of June 30, 2019, BNY Mellon had $35.5 trillion in assets under custody and/or administration, and $1.8 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.