(19 October 2009, Hong Kong) NWS Holdings Limited (“NWS Holdings” or the “Company”; Hong Kong stock code: 659) has established a sponsored Level 1 American Depositary Receipt (“ADR”) facility effective on 9 October 2009. The ADRs trade on the United States (“US”) over-the-counter market under the ticker symbol “NWSZY” and the CUSIP number “62948T101”.
Each ADR represents 10 ordinary shares of the Company. The establishment of the sponsored Level 1 ADR facility does not involve an offering or issuance of new shares, rather the ADRs will be backed by the Company’s existing free float listed on The Stock Exchange of Hong Kong Limited. Owners of the ADRs have the same rights to dividends and distributions and voting powers as the holders of ordinary shares of the Company.
NWS Holdings believes that the ADR facility can enable further exposure to the US market, improve liquidity, broaden the existing shareholder base and raise the Company’s investment profile internationally.
ADRs are negotiable instruments resembling stock certificates, and are traded as US securities. ADRs are a convenient means for many US investors to purchase non-US securities, and may simplify trading and settlement while reducing certain risks and costs associated with custody and trading in a direct foreign investment.
In view of the social needs at economic downturn, the Group donated bathroom amenities and rain gear items to the underprivileged students of Fresh Fish Traders’ School. Recently, the Group has launched the NWS Volunteer Alliance Award Programme, to honour our staff’s dedication to volunteering services in our own way.
NWS Holdings has appointed Deutsche Bank Trust Company Americas (“Deutsche Bank”) as depositary bank for the ADR facility. Deutsche Bank is pleased to announce that from 19 October 2009 through 19 January 2010, issuances of NWS Holdings’ ADRs to investors will be processed free of charge.
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This press release is also available on the Group’s website ( www.nws.com.hk).
NWS Holdings Limited (“NWS Holdings”, Hong Kong stock code: 659), the infrastructure and service flagship of New World Development Company Limited (Hong Kong stock code: 17), embraces a diversified range of businesses in Hong Kong, Mainland China and Macau. Its Infrastructure portfolio includes Roads, Energy, Water and Ports & Logistics projects. Its Services division comprises Facilities Management (the management of Hong Kong Convention and Exhibition Centre and Free Duty), Contracting & Transport (Hip Hing Construction, NWS Engineering, and bus and ferry services) and Financial Services (Taifook Securities and New World Insurance).
For further information, please contact:
NWS Holdings Limited
