Vienna Insurance Group launches new ADR programme in the US
The Vienna Insurance Group AG Wiener Versicherung Gruppe is grouping the independent American Depositary Receipt (ADR) programmes which have existed until now into a single, sponsored Level I ADR programme, with the BNY Mellon. ADRs are securities that make it easier for US investors to invest in the Vienna Insurance Group.
“For several years now, the Vienna Insurance Group has had a significant investor base in the US. Now, with the sponsored, compact ADR programme, we are developing our service and making a clear commitment to investors in the United States, who are looking to benefit from an investment in a leading CEE insurance company,” said CEO Günter Geyer.
The ADRs of the Vienna Insurance Group will only be sold over the counter (OTC) under the symbol VNRFY in US dollars, and dividend payments will likewise be made in US dollars. Five ADRs represent one share. The programme will be serviced by the BNY Mellon acting as depositary, and will be active from 27 April.
Vienna Insurance Group shares are listed on the Vienna and Prague Stock Exchanges and will continue to be traded there independently from the ADR programme.