BNY Mellon, a global leader in investment management and investment services, has been appointed by Eurasia Drilling Company Limited as depositary bank for its global depositary receipt (GDR) program. Each GDR represents one ordinary share and trades on the London Stock Exchange under the symbol "EDCL."
Based in Russia, Eurasia Drilling is a leading onshore and offshore drilling and well services contractor. The company owns and operates one of the largest fleets of land drilling and work-over units in the world. Eurasia Drilling is also the premier supplier of drilling services in the expanding Caspian Sea jack-up market.
"We selected BNY Mellon as our DR provider due to its global infrastructure and capabilities and its proactive approach to facilitating innovation in regional markets," said Tom O'Gallagher, vice president of marketing and investor relations at Eurasia Drilling. "We look forward to working closely with its supportive teams."
"We specialize in bringing the latest innovations to our clients to help them gain visibility and awareness in regional markets and around the world," said Christopher M. Kearns, CEO of BNY Mellon's Depositary Receipts business. "With more than 200 DR successor mandates handled over the past 25 years, we have the expertise to make Eurasia Drilling's program transition to BNY Mellon as seamless as possible."
Eurasia Drilling's GDRs have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the U.S., absent registration or an applicable exemption from the registration requirements.
BNY Mellon acts as depositary for more than 2,800 American and global depositary receipt programs, acting in partnership with leading companies from over 65 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. L
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 and more than 100 markets. As of Sept. 30, 2014, BNY Mellon had $28.3 trillion in assets under custody and/or administration, and $1.6 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).