Bank of New York Mellon has picked up a key mandate, having been appointed by the Commonwealth Bank (CBA) as the depository bank for its American Depositary Receipt (ADR) program.
The mandate follows on from BNY Mellon’s long-standing relationship with CBA, where it has acted as depositary for the bank’s 144A Depositary Receipt program, which makes available restricted securities to qualified institutional buyers.
The CBA ADRs represent one ordinary share and trade on the over-the-counter market.
While institutional investors, including super funds, unanimously acknowledge the energy transition as a significant challenge, their perspectives on the extent of their involvement in addressing the substantial capital requirements vary widely.
Despite a period of increased volatility, several considerations suggest that the bull market will remain intact and the trend in shares will remain up, an economist has suggested.
HESTA has slammed Woodside’s climate transition action plan, pointing to “significant” gaps.
All merger proposals will have to be approved by the consumer watchdog under the sweeping merger reforms announced by the government on Wednesday.
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