Sponsored ADR program
An American Depositary Receipt (ADR) is a type of negotiable security that is denominated in US dollars. It represents shares in a non-US company and enable US investors to indirectly hold shares in a foreign company and trade them on US financial markets.
AccorHotels has appointed BNY Mellon as the depositary bank for its sponsored Level 1 ADR program, launched on March 2, 2015.
Accor ADRs can be traded in the US over-the-counter (OTC) market.
The ADR gives holders access to the dividends and voting rights attached to the underlying shares. As the depositary bank for Accor’s ADR program, BNY Mellon distributes the dividends in US dollars to Accor ADR holders and helps them exercise their voting rights.
The sponsored Accor ADR program was set up to replace previous, unsponsored programs so that the ADR price reflects the share price, in line with market practices.
The ratio between the ADRs and ordinary Accor shares is 5 ADR to one share.