Metro Pacific launches ADRs in US

Posted at 08/06/2012 10:26 AM

MANILA, Philippines - Metro Pacific Investments Corp. will launch its American Depositary Receipts level 1 program on Monday.

The ADRs will be launched at 8:30 a.m., Eastern US time.

In a disclosure to the Philippine Stock Exchange, Metro Pacific president and CEO Jose Ma. K. Lim said the program is "in line with the company’s thrust to broaden its investor base by making its stock available to the widest possible audience."

Companies, which are based in foreign countries and listed on foreign exchanges, can be traded in the US stock market as ADRs.