BNY Mellon will act as depository bank for luxury apparel maker Hugo Boss for its sponsored American Depositary Receipt (ADR) programme.
Each Hugo Boss ADR represents one-fifth of an ordinary share and trades on the over-the-counter market. Boss’s ordinary shares trade on the Frankfurt Stock Exchange under the symbol "BOSS."
"We are delighted to partner with BNY Mellon in establishing a sponsored ADR programme," said Mark Langer, chief financial officer of Hugo Boss. "We look forward to expanding our visibility and investor base within the US capital markets via this ADR programme."
"We'll work closely with Hugo Boss to broaden its outreach to the global investment community, with the ultimate goal being diversification of its shareholder base by attracting more US investors," said Christopher Kearns, deputy CEO of BNY Mellon's Depositary Receipts business.
