Copenhagen, 2013-09-05 14:59 CEST (GLOBE NEWSWIRE) --
ALK (OMX: ALK B) announces today that it has established a sponsored Level 1 American Depositary Receipt (ADR) programme in the United States.
An ADR is a US dollar denominated negotiable certificate that represents ownership of shares in a non-US company. Each ADR is issued by a US depositary bank and represents one or more shares of a foreign stock or a fraction of a share. ADRs were specifically designed to facilitate the purchase, holding and sale of non-US securities by US investors.
“The importance of North America to ALK continues to grow, with the expected introductions of our new innovative allergy immunotherapy tablets via our partnership with Merck," said Jens Bager, President & CEO of ALK. “US-based investors are a significant part of our existing shareholder base. The sponsored ADR programme provides a convenient alternative to meet their needs as well as supporting ALK’s aim to expand the US shareholder base alongside our growing business there.”
Deutsche Bank is acting as depositary bank for the ADR programme. ALK ADRs will now be available for trading in the US over-the-counter (OTC) market, with five ADRs representing one ALK share (5 ADR: 1 ordinary share). The ticker symbol is AKABY.
ALK-Abelló A/S
Jens Bager
President & CEO
For further information please contact:
Jens Bager, President and CEO, tel. +45 4574 7576
Investor Relations: Per Plotnikof, tel. +45 4574 7527, mobile +45 2261 2525
Press: Martin Barlebo, tel. +45 4574 7901, mobile +45 2064 1143
About ALK
ALK is a research-driven global pharmaceutical company focusing on allergy prevention, diagnosis and treatment. ALK is the world leader in allergy immunotherapy – a unique treatment of the underlying cause of allergy. The company has approximately 1,800 employees with subsidiaries, production facilities and distributors worldwide. ALK has entered into partnership agreements with Merck and Torii to commercialise allergy immunotherapy tablets in North America and Japan, respectively. The company is headquartered in Hørsholm, Denmark, and listed on NASDAQ OMX Copenhagen. Find more information at www.alk.net
About Sponsored Level 1 ADR programme
ADRs are US dollar-denominated negotiable instruments issued by a depositary bank. The price of an ADR often tracks the price of the foreign stock in its home market, adjusted for the ratio of ADRs to the company's shares, but may vary according to other factors. Level 1 depositary receipts are the first level of sponsored ADRs that can be issued and may only be traded on the OTC market. When a company establishes a sponsored ADR programme, it appoints a depositary bank which also acts as its US transfer agent.