Balfour Beatty plc sponsored level 1 ADR programme
19 June, 2012
Balfour Beatty, the international infrastructure group, today announces that it will sponsor an American Depositary Receipt (ADR) programme to improve access for investors in the United States.
Citi has been appointed depositary bank for the programme which starts trading today and replaces the current unsponsored ADR programmes. Balfour Beatty’s ADRs trade on the OTCQX platform in the US over-the-counter market under the symbol BAFYY.
ADRs allow US investors to buy shares in foreign companies without the need for cross-border or cross-currency transactions. They are priced and pay any dividends in US dollars and can be traded like the shares of US-based companies.
Balfour Beatty plc
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2. Balfour Beatty (www.balfourbeatty.com) is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments.
We work in partnership with our customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise.
Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail).
The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services.
Balfour Beatty employs 50,000 people around the world.