NEW YORK, June 28, 2013 /PRNewswire/ -- BNY Mellon, the
global leader in investment management and investment services, has
been appointed by TGS-NOPEC Geophysical Company ASA as depositary
bank for its sponsored American Depositary Receipt (ADR)
program. Previously, TGS traded in the U.S. over-the-counter
(OTC) market as an unsponsored DR program. Each TGS ADR
represents one ordinary share and trades OTC under the symbol
"TGSGY." TGS' ordinary shares trade on the Oslo Bors under the
symbol "TGS."
TGS provides geo-science data to oil and gas exploration and
production companies worldwide. In addition to extensive databases
that include seismic data, magnetic and gravity data, digital well
logs, production data and directional surveys, TGS also offers
advanced processing and imaging services, interpretation products,
permanent reservoir monitoring, and data integration solutions.
"We are delighted to partner with BNY Mellon in establishing a
sponsored ADR program," said Kristian
Johansen, CFO of TGS. "We look forward to expanding our
visibility and investor base within the U.S. capital markets via
this ADR program."
"We'll work closely with TGS to broaden its outreach to the
global investment community, with the ultimate goal being
diversification of its shareholder base by attracting more U.S.
investors," said Christopher M.
Kearns, CEO of BNY Mellon's Depositary Receipts
business.
BNY Mellon acts as depositary for more than 2,700 American and
global depositary receipt programs, acting in partnership with
leading companies from 68 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. Learn more at www.bnymellon.com/dr
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
36 countries and more than 100 markets. As of March 31, 2013, BNY Mellon had $26.3 trillion in assets under custody and/or
administration, and $1.4 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). Learn more at bnymellon.com, or follow us on Twitter
@BNYMellon.
This release is for informational purposes only. BNY Mellon
provides no advice nor recommendation or endorsement with respect
to any company or securities. Nothing herein shall be deemed to
constitute an offer to sell or a solicitation of an offer to buy
securities. Depositary Receipts: Not FDIC, State or Federal Agency
Insured; May Lose Value; No Bank, State or Federal Agency
Guarantee.
SOURCE BNY Mellon
