BRISBANE, March 15 AAP - E-commerce technology company, Jumbomall.com Corporation Ltd, today announced the establishment of
an American Depository Receipt (ADR) Program with The Bank of New York.
The Bank of New York has the largest market share of ADRs in
both the public and private markets in the United States (US), representing more than 1,300 companies from more than 69 countries.
Jumbomall chief executive officer Mike Veverka said the establishment of an ADR Program reflected Jumbomall's increased
global recognition, and was a forerunner to any consideration of becoming a publicly listed company in the US.
"The ADR Program will introduce Jumbomall to the United States
investment markets," he said.
"It will enlarge the market for Jumbomall shares through
broadened investor exposure, while enhancing the image of the
company's products and services."
In 1999, The Bank of New York acted for 64 per cent of the top
50 most actively traded listed ADR Programs in the US with trading
volume exceeding $US287 billion.
The company has offices in San Jose in the US, London in the UK,
and Brisbane in Australia, and is a listed stock on the third
markets of the Berlin, Frankfurt, Munich and Stuttgart stock
exchanges.
At 1224 AEDT Jumbomall shares were two cents higher at 47 cents.
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