New York-based investment management and investment services firm BNY Mellon (NYSE: BK) said has been appointed by Mexican low-cost carrier Controladora Vuela Compania de Aviacion SAPI DE CV (Volaris) (NYSE: VLRS) as depositary bank for its American Depositary Receipt programme in the first dual-listed initial public offering from Mexico this year.
Each Volaris ADR represents 10 Certificados de Participacion Ordinaria and trades on the New York Stock Exchange. The company´s ordinary shares trade on the Mexican Stock Exchange as (MEX: VOLAR).
Volaris is a discount airline carrier based in Mexico that targets passengers visiting friends and relatives, cost-conscious business people, and leisure travelers.
Since starting operations in 2006, Volaris has increased its routes from five to 80 and grown its Airbus A320 fleet of aircraft from four to 43. The airline operates up to 235 daily flight segments on routes that connect 30 cities in Mexicoand 10 cities in the US.
BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs, acting in partnership with leading companies from 68 countries. BNY Mellon is committed to helping securities issuers access the world´s rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services.
Find out more at www.bnymellon.com.