GHENT, Belgium, Sept. 5, 2014 (GLOBE NEWSWIRE) -- Ablynx [Euronext Brussels: ABLX] today announced the launch of a Sponsored Level I American Depository Receipt (ADR) programme in the United States in order to support the expansion of the Company's US investor base.
An ADR is a negotiable US security representing ownership of publicly traded shares in a non-US corporation. ADRs are quoted and traded in US dollars in the US Securities market. Also, the dividends, if any, are paid to investors in US dollars. ADRs are specifically designed to facilitate the purchase, holding and sale of non-US securities by US investors.
The Ablynx ADRs will now be available for trading in the US over-the-counter (OTC) market. The ticker symbol is ABYLY US and each Ablynx ADR represents one Ablynx ordinary share as traded on Euronext Brussels. JP Morgan acts as depository bank for the ADR programme.
Dr Edwin Moses, Chief Executive Officer of Ablynx, commented:
"Ablynx is one of Europe's leading biopharmaceutical companies with a broad product pipeline, strong cash position and partnerships with major pharma companies worldwide. Our US investors have always been an important part of our shareholder base and the launch of the ADR programme will offer alternative trading options for existing and potential new US investors. The programme should therefore further expand and diversify our investor base, and will improve the liquidity of our shares. It will further enhance the visibility and global presence of the Company among international investors and business partners, and does not bring any additional direct costs for the Company."
Ablynx is a biopharmaceutical company engaged in the discovery and development of Nanobodies®, a novel class of therapeutic proteins based on single-domain antibody fragments, for a range of serious human diseases, including inflammation, haematology, oncology and pulmonary disease. Today, the Company has more than 30 programmes in the pipeline and six Nanobodies are at the clinical development stage. Ablynx has on-going research collaborations and significant partnerships with major pharmaceutical companies including AbbVie, Boehringer Ingelheim, Merck & Co, Merck Serono and Novartis. The Company is headquartered in Ghent, Belgium. More information can be found on www.ablynx.com.
For more information, please contact
Dr Edwin Moses
t: +32 (0)9 262 00 07
m: +44 (0)7771 954 193 /
+32 (0)473 39 50 68
Associate Director Investor Relations
t: +32 (0)9 262 00 82
m: +32 (0)479 49 06 03
Follow us on Twitter @AblynxABLX
Ablynx media relations Consilium Strategic Communications:
Mary-Jane Elliott, Amber Bielecka, Lindsey Neville
t: +44 (0)203 709 5700
pdf format of the press release http://hugin.info/137912/R/1853894/648272.pdf