American depositary receipts are issued by U.S. depositary banks as tradable securities that certify the right to shares of a non-U.S. company. Investors are thus able to invest indirectly in German companies that are not listed on a U.S. stock exchange. At the same time, securitization ensures increased transparency for investors compared to unsponsored ADRs.
The financial services provider Bank of New York Mellon was chosen as the depositary bank for the sponsored ADR program.
With 2015 sales of EUR 12.1 billion, Covestro is among the world's largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, electrical and electronics, construction and the sports and leisure industries. Covestro, formerly Bayer MaterialScience, has 30 production sites around the globe and as of the end of 2015 employed approximately 15,800 people (full-time equivalents).
Find more information at www.covestro.com.