Essar Energy Launches ADR Programme
OREANDA-NEWS. December 7, 2011. Essar Energy plc [LSE: ESSR], the India-focused integrated energy company, today announced the launch of its sponsored level 1 American Depositary Receipt (ADR) programme. Trading under the symbol ‘ERERY’, each ADR represents two ordinary shares of Essar Energy and is traded on the U.S. Over-The-Counter (OTC) market.
An ADR is a negotiable
Naresh Nayyar, Chief Executive Officer of Essar Energy, said: “We are delighted to have an ADR programme and to be traded on the OTC market. This is a key milestone in building market awareness of Essar Energy and opens up a new source of potential investors in our Company.”
BNY Mellon has been appointed as the depositary bank for the sponsored ADR programme.
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