Oesterreichische Post—known as the Austrian Post—has chosen BNY Mellon, a leading investment management and investment services firm, as its depositary bank for its American depositary receipt program.
ADRs are an U.S. dollar-denominated form of equity ownership in a non-U.S. firm that represent the company’s shares and rights.
“The interest in Austrian Post from U.S. investors has increased strongly the last few years,” Harald Hagenauer, the head of investor relations at the Austrian Post, said. “We are committed to broadening our outreach in this important market. The launch of our ADR program will make it easier for an even wider group of U.S. investors to participate in our future performance.”
The Austrian Post is the nation’s leading postal services provider, and its main business activities include direct mail, as well as the transport of delivery of letters, print media and parcels. It has 12 subsidiaries in parcel and logistics management and unaddressed direct mail across Europe.
“Austrian Post is one of several leading European companies to recently select BNY Mellon as their depositary bank,” Christopher Kearns, the CEO of BNY Mellon’s depositary receipts business, said. “We will work closely with Austrian Post’s management team to increase their visibility and access to the U.S. investment community, drawing on our wide set of industry-leading resources.”