BNY Mellon Appointed as Depositary by TGS-NOPEC Geophysical Company ASA
NEW YORK, June 28, 2013
NEW YORK, June 28, 2013 /PRNewswire/ -- BNY Mellon, the global leader in
investment management and investment services, has been appointed by TGS-NOPEC
Geophysical Company ASA as depositary bank for its sponsored American
Depositary Receipt (ADR) program.Previously, TGS traded in the U.S.
over-the-counter (OTC) market as an unsponsored DR program.Each TGS ADR
represents one ordinary share and trades OTC under the symbol "TGSGY." TGS'
ordinary shares trade on the Oslo Bors under the symbol "TGS."
TGS provides geo-science data to oil and gas exploration and production
companies worldwide. In addition to extensive databases that include seismic
data, magnetic and gravity data, digital well logs, production data and
directional surveys, TGS also offers advanced processing and imaging services,
interpretation products, permanent reservoir monitoring, and data integration
"We are delighted to partner with BNY Mellon in establishing a sponsored ADR
program," said Kristian Johansen, CFO of TGS. "We look forward to expanding
our visibility and investor base within the U.S. capital markets via this ADR
"We'll work closely with TGS to broaden its outreach to the global investment
community, with the ultimate goal being diversification of its shareholder
base by attracting more U.S. investors," said Christopher M. Kearns, CEO of
BNY Mellon's Depositary Receipts business.
BNY Mellon acts as depositary for more than 2,700 American and global
depositary receipt programs, acting in partnership with leading companies from
68 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. Learn more at www.bnymellon.com/dr
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 36 countries and more than 100 markets. As of March 31,
2013, BNY Mellon had $26.3 trillion in assets under custody and/or
administration, and $1.4 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). Learn
more at bnymellon.com, or follow us on Twitter @BNYMellon.
This release is for informational purposes only. BNY Mellon provides no advice
nor recommendation or endorsement with respect to any company or securities.
Nothing herein shall be deemed to constitute an offer to sell or a
solicitation of an offer to buy securities. Depositary Receipts: Not FDIC,
State or Federal Agency Insured; May Lose Value; No Bank, State or Federal
SOURCE BNY Mellon
Contact: Joseph F. Ailinger Jr., +1 617-722-7571, firstname.lastname@example.org
or Dori Flanagan, +1 212-815-2291, email@example.com
Press spacebar to pause and continue. Press esc to stop.