Mazor Robotics has named BNY Mellon as depository bank for its American depository receipt (ADR) programme.
Each Mazor Robotics ADR represents two ordinary shares and trades on NASDAQ under the symbol ‘MZOR’. Mazor Robotics ordinary shares trade on the Tel Aviv Stock Exchange under the same symbol.
Mazor Robotics develops surgical guidance systems and complementary products in the spinal surgery market tat have been used in more than 35,000 implants in the US, Asia and Europe. Its flagship product, Renaissance, enables surgeons to conduct spinal surgeries accurately.
"The momentum created by the successful market penetration of our Renaissance systems, coupled with the availability of our ADRs on NASDAQ, means US investors will be able to share in our continued progress," said Ori Hadomi, president and CEO of Mazor Robotics.
Christopher Kearns, CEO of BNY Mellon’s depository receipts business, added: "Mazor's decision shows yet another Israeli company understanding the many benefits of depository receipts both for issuing companies and their investors abroad. We believe their listing in the US has the potential to widen Mazor's investor base dramatically."
