LONDON (Alliance News) - Dixons Carphone PLC, the electrical and telecommunications retailer, on Thursday said its American depositary receipts have been admitted on the over-the-counter market in the US through a sponsored Level I ADR program.
Deutsche Bank has been appointed as the depositary bank for Dixons Carphone's ADR program, the company said in a statement, with each Dixons Carphone ADR representing two London-listed Dixons Carphone shares.
"ADRs enable qualifying non-US companies to have direct and broader exposure to the US investment community, allowing US investors to trade conveniently and efficiently in their normal exchange trading hours and with settlement in US dollars, and will complement Dixons Carphone's existing primary listing on the LSE," Dixons Carphone said in a statement.
Shares in Dixons Carphone were up 0.2% at 424.70 pence Thursday afternoon in London.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
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