Bank of America - Merrill Lynch has been approved by the US regulator FINRA to act as "'Market Maker' for Fatima Fertiliser Company Limited for its sponsored level 1 American Depository Receipt (ADR) programme. BoA-Merrill Lynch, one of the world's premier providers of wealth management, securities trading and sales, corporate finance and investment banking services, will facilitate the trading of Fatima's ADR on the OTC market in US.
It must be noted that a year ago, in March 2011, Fatima appointed BNY Mellon, the global leader in asset management and securities servicing, as the Depository Bank for its ADR programme. Fatima's ADRs are tradable on the over-the-counter (OTC) market in US under the symbol 'FTMFY'. Fatima became the first Pakistan based company to facilitate trading on the US OTC markets enabling both retail and institutional investors in the US and internationally to trade readily in more convenient daylight hours.
This partnership of BoA-Merrill Lynch and Fatima will offer greater opportunities to the global investor community to invest in Pakistan based securities, while enabling the company and the country to benefit from the higher visibility provided by the ADR programme.-PR
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