Redefine International launches ADR programme
Redefine International launched its American Depository Receipt (ADR) programme on 31 December 2013.
The programme is on the over-the-counter market in the US through a sponsored ADR programme with Bank of New York Mellon.
Each depository receipt in the ADR programme represents ten ordinary shares in Redefine International and trades under the symbol "RDFIY".
Redefine International has a growing international shareholder base and, by establishing the ADR programme, the company hopes to make investing in Redefine International more readily accessible to an increasing number of international investors, particularly those located in the US.
Redefine International was granted UK REIT status, an internationally recognisable tax dispensation for investment property companies, with effect from 4 December 2013.
Andrew Rowell, chief financial officer of Redefine International, says: "The REIT structure is an international benchmark for property ownership in a listed environment and is widely recognised as the worldwide industry standard.
“The ADR programme is therefore the ideal platform through which both to encourage and facilitate growing international interest in investing in Redefine International. Redefine International offers investors sustained and growing income at an attractive income yield with a good prospect of capital appreciation, underpinned by diversified quality property assets managed by proven operators."
- By Category
- News from other sites
- Special Reports