DR issuers throughout Asia and around the world have made The Bank of New York Mellon the world's leading depositary bank, with a market share of 64%, for one main reason: we add value to their DR programs. In fact, nearly every company that has switched its DR program to us has experienced greater trading activity and DRs outstanding after the move. We help clients achieve such successful results through specialized strategic services.
We set ourselves apart from other depositaries by consistently interfacing with the three parties key to any DR program's success: issuers, investors and financial intermediaries. For issuers, our services are simply unmatched. Prior to your program's establishment, we expertly guide you through the steps of the process. Because our administration, operations, corporate action expertise and DR-related technology are second to none, once your program is on the market, it runs seamlessly. In addition, since we dedicate extensive resources to market visibility initiatives, your program stays at the forefront of the investment community's consciousness.
We also offer exceptional outreach programs for investors and financial intermediaries, with specialized teams dedicated to serving their needs, so others in the market influencing your program's performance find it easy to learn about, invest in and trade your DRs.
DRs are playing an increasingly important role in the dynamic world of Asian finance. As of mid-year 2008, China stood out as the world's preeminent issuing country in terms of DR trading value, with $530 billion in value, a 253% growth from mid- year 2007. Chinese search engine Baidu.com was number one among the top 20 most active U.S.-listed DRs in 2007.
The power of DRs can be seen throughout Asia. In the first half of 2008, companies from India established 11 new DR programs - more than any other nation. In the latter half of 2007, the Singapore Stock Exchange opened as a venue for DR programs, and there are currently six DR programs trading in Singapore, all from India. In March 2008, in the first rights offering from India to non-resident U.S. holders, State Bank of India raised $245 million using DRs.
The Bank of New York Mellon is the undisputed DR market leader in Asia. It currently has sponsored programs in 15 countries in Asia and Oceania: Australia, Bangladesh, Hong Kong, China, India, Indonesia, Japan, Malaysia, New Zealand, Pakistan, the Philippines, Singapore, South Korea, Taiwan and Thailand. Out of the 15 countries it works with, it is the market leader in 12, in terms of the number of sponsored programs established. The Bank of New York Mellon is also the market leader in terms of NYSE-listed and NASDAQ-listed companies from Asia.
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