Carlsberg is looking to gain US-based investors by establishing a sponsored American depositary receipt programme on the New York Stock Exchange (NYSE).

Carlsberg has established the listing via financial institution BNY Mellon, the Denmark-based brewer said yesterday (1 March).

American depositary receipts (ADR) are commonly used by companies based outside the US and seeking to list on the NYSE. Sponsored ADR programmes are more attractive to investors than unsponsored ones, because they carry voting rights and shareholder benefits.

“Carlsberg has for many years had a sizeable shareholder base in the US and we believe the establishment of the ADR program will be a valuable service for our existing and potential new US shareholders,” said Carlsberg CFO and deputy CEO Jørn Jensen.

The brewer said that five ADRs will be equivalent to one of the firm’s ordinary shares.

“Carlsberg joins a growing number of companies moving from an unsponsored to sponsored ADR programme for the benefits it brings in terms of exposure and service,” said Michael Cole-Fontayn, CEO of BNY Mellon’s Depositary Receipts business. 

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“Carlsberg’s decision to convert to a sponsored program exhibits long-term vision and commitment to the US capital markets and investors,” he added.

Carlsberg last week predicted a 20% rise in profits in 2010, following solid results for 2009.

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