BNY Mellon has been appointed by MOL Global, Inc. as depositary bank for its American depositary receipt (ADR) programme, the first from Malaysia. Each MOL Global ADR represents one (1) ordinary share and trades on Nasdaq under the symbol MOLG.

 

An e-commerce leader in Southeast Asia, MOL Global develops online media platforms and operates online payment systems. According to Frost & Sullivan, MOL Global is the largest alternative e-payment facilitator for online digital goods and services by payment volume in Southeast Asia.

 

"MOL Global’s ADR listing on NASDAQ is a critical part of our strategy to expand our business globally,” said Ganesh Kumar Bangah, group chief executive officer of MOL Global.

 

“This offering from MOL Global continues the trend of international technology firms using ADRs to list in the US and demonstrates to other Asean companies that an ADR listing on a US exchange can create fresh opportunities,” said Neil Atkinson, head of BNY Mellon's depositary receipts business in Asia-Pacific. “After Alibaba’s historic ADR listing, we expect to see more IPO activity from the Asia-Pacific region from companies looking to access global markets.”