MiX Telematics lists on NYSE
Global fleet and mobile asset management solutions provider MiX Telematics listed on the NYSE on Wednesday by way of American Depositary Receipts (ADRs), with the Bank of New York Mellon (BNY Mellon) as the depositary bank.
BNY Mellon has acted as depositary bank for various South African US-listed ADR programmes.
“MiX Telematics is a global business serving customers in 112 countries across six continents and the US is an important market for us as we continue to grow our business and investor base," MiX CEO Stefan Joselowitz said, adding that the availability of the company’s ADRs on the NYSE through a sponsored ADR programme was a natural next step in improving the company’s liquidity and increasing its visibility in the capital markets as it continued to grow.
BNY Mellon CEO Christopher Kearns commented that the bank would work closely with MiX to enhance its profile among US investors.
“Our team looks forward to providing a tailored suite of services to help MiX unlock the full potential of its new ADR programme,” he added.
Each MiX ADR represents 25 ordinary shares and trades on the NYSE under the ticker symbol MIXT. The company’s ordinary shares continue to trade on the JSE under the symbol MIX.
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