Carlsberg AS has announced the appointment of BNY Mellon as depository for its sponsored American depositary receipt (ADR) program.

Carlsberg is one of the world's largest brewery groups with a comprehensive brand portfolio that includes four out of the 10 largest European beer brands.

Carlsberg is a constituent stock of MSCI Pan-Euro, FTSE Euro First, and Dow Jones Nordic 30. Five Carlsberg ADRs represent one Carlsberg ordinary share.  

Of the appointment, Michael Cole-Fontayn, chief executive officer of BNY Mellon's Depositary Receipts business said:"Carlsberg joins a growing number of companies moving from an unsponsored to sponsored ADR program for the benefits it brings in terms of exposure and service.

“Carlsberg's decision to convert to a sponsored program exhibits long-term vision and commitment to the U.S. capital markets and investors.  We look forward to supporting management's efforts to build a successful and liquid ADR program."

"Carlsberg has for many years had a sizeable shareholder base in the U.S., and we believe establishment of the sponsored ADR program will be a valuable service for our existing and potential new U.S. shareholders," said Jorn P. Jensen, Carlsberg's deputy chief executive officer and chief financial officer.