Ablynx launches American Depository Receipt program to expand US investor base
Belgian drug developer Ablynx (Euronext Brussels: ABLX) has launched a Sponsored Level I American Depository Receipt (ADR) program in the USA to support the expansion of its investor base there.
ADRs are negotiable US security representing ownership of publicly-traded shares in a non-US corporation, and are quoted and traded on the US securities market, in US dollars. Dividends are likewise paid to investors in US dollars. They are specifically designed to facilitate the purchase, holding and sale of non-US securities by US investors.
Ablynx ADRs are available for trading in the US over-the-counter market, under the symbol ABYLY US, with each Ablynx ADR representing one ordinary share, as traded on Euronext Brussels. JP Morgan acts as the depository bank for the ADR programme.
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