Message #1 From:
NewsBot Date: April 8, 2008 07:07:09 PM
adidas AG Joins International OTCQX
Pink Sheets, LLC, the leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities, today announced that adidas AG (PINKSHEETS: ADDYY), the world's second-largest sporting goods company, has chosen to list its American Depositary Receipts (ADR) on International OTCQX. Beginning today, adidas's ADRs will trade on the OTC market's highest tier, International PremierQX, where investors can find current disclosure and financial information on the company (available on www.otcqx.com and www.pinksheets.com).
"We are pleased to welcome such a well-recognized and respected company as the adidas Group to the International OTCQX market tier," said R. Cromwell Coulson, Chairman and CEO of Pink Sheets LLC. "As an International OTCQX-listed company, the adidas Group distinguishes itself as one of the most prestigious companies trading over-the-counter, and provides U.S. investors with access to their latest news and disclosure information."
"As a member of International OTCQX, we look forward to enhancing our exposure to U.S. investors," said Natalie Knight, Head of Investor Relations at adidas. "We are proud to join the esteemed group of companies trading on International OTCQX and look forward to the increased investor access, information availability and trading visibility this new market tier offers."
The Bank of New York Mellon will serve as adidas's Principal American Liaison ("PAL") on International OTCQX. adidas's ADRs will trade in the U.S. on International OTCQX under the ticker "ADDYY" where each ADR will represent one half of an ordinary share.
"We are delighted to act as PAL for adidas to improve the amount of information available to U.S. investors and to raise the visibility of their ADR program in the U.S.," said Christopher Sturdy, Executive Vice President of The Bank of New York Mellon's Depositary Receipt Division. "International PremierQX is the highest market tier for securities traded OTC and provides a better home for companies like adidas."
adidas AG's shares are also listed on the Deutsche Börse stock exchange in Frankfurt, where the company is part of the DAX-30, representing the largest German companies listed.
The adidas Group is one of the global leaders within the sporting goods industry, offering a broad range of products around three core segments adidas, Reebok and TaylorMade-adidas Golf. Headquartered in Herzogenaurach, Germany, the Group has more than 28,000 employees and sales of over EUR 10 billion.
International OTCQX provides a gateway to U.S. securities markets for international companies that are listed on a qualified international exchange and provide ongoing disclosure in English to U.S. investors. More importantly, International OTCQX distinguishes the reputable international issuers from the 8,000 over-the-counter (OTC) securities traded in the U.S. Only leading companies that have substantial operating businesses and provide credible disclosure to the public are eligible for inclusion on the premium-tier International OTCQX, which commenced trading on March 5, 2007. For more about International OTCQX, visit www.otcqx.com.
Pink Sheets, LLC is the leading electronic inter-dealer quotation system, trading technology and financial information provider for the over-the-counter (OTC) securities markets. Its centralized information network includes services designed to benefit market makers, issuers, brokers and OTCinvestors. Pink Sheets information enhances the efficiency of OTC trading, provides better executions for OTCinvestors and improves the capital formation process for OTC issuers. For more information visit the Pink Sheets website at www.pinksheets.com.
