Qihoo 360 Technology Selects BNY Mellon as Depositary Bank

Wireless News
04-19-2011
Qihoo 360 Technology Selects BNY Mellon as Depositary Bank
Type: News

BNY Mellon, a provider of investment management and investment services, has been selected by Qihoo 360 Technology as the depositary bank for its American depositary receipt program.

In a release dated April 14, the Company said each Qihoo ADR represents one-and-a-half ordinary shares.
Qihoo is a provider of internet and mobile security products and services to internet users in China.

"We have enjoyed a successful U.S. debut, as evidenced by the fact that our IPO has been oversubscribed and priced beyond the initial range," said Hongyi Zhou, Qihoo's chief executive officer. "We look forward to working with BNY Mellon's world-class depositary receipts team to capitalize on our success thus far and continue to expand our shareholder base and increase awareness in the global capital markets."

"Chinese technology companies have enjoyed excellent valuation and success when conducting U.S. IPOs via depositary receipts," said Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business. "Qihoo joins the ranks of companies that are gaining ever increasing visibility in the U.S., and BNY Mellon's investor relations and related initiatives aim to expand their brand even further."

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