THE BANK OF NEW YORK SELECTED FOR NEW SPONSORED ISSUE BY COCA-COLA FEMSA, S.A. de C.V.
NEW YORK, Sept. 16 /PRNewswire/ -- The Bank of New York announced today that Coca-Cola FEMSA, S.A. de C.V. has selected the Bank as ADR depositary for its international public offering of $151.4 million through the issuance of more than 7.3 million American Depositary Receipts (ADRs). Coca-Cola FEMSA, a Mexican company, is the world's largest Coca-Cola bottling operation in terms of population in a single territory. Coca- Cola FEMSA has the exclusive right to produce and market Coca-Cola, Diet Coke, Sprite, Diet Sprite, and Fanta in the territories of Mexico City and adjoining regions and in southeastern Mexico. Mexican soft drink and cola sales are the second-highest in the world, second only to those in the United States. In 1992, the company recorded the fastest growth in terms of sales volume of any Coca-Cola bottler in Mexico. The Coca- Cola Company recently purchased a 30 percent stake of Coca-Cola FEMSA capital stock for $195 million. The Coca-Cola FEMSA ADRs trade on the New York Stock Exchange under the symbol "KOF". The Bank of New York is the world's largest depositary for American and Global Depositary Receipt facilities, which allow foreign companies to offer dollar-denominated securities to investors in the United States. The Bank has increased its market position consistently so that by the end of 1992 it accounted for over 50% of all sponsored depositary receipt programs. The Bank currently issues depositary receipts for more than 650 non-U.S. companies representing 33 countries. The Bank of New York was founded in 1784 by Alexander Hamilton and is the nation's oldest bank operating under its original name. It is the principal subsidiary of The Bank of New York Company, Inc. (NYSE: BK), which is the sixteenth-largest bank holding company in the United States, with total assets of $41 billion as of June 30, 1993. The company provides a complete range of banking and other financial services to corporations and individuals worldwide through its five basic businesses: Corporate Banking, Retail banking, Securities and Other Processing, Trust and Investment Management, and Financial Market Services. -0- 9/16/93 /CONTACT: Michael M. Pascale, vice president, 212-495-1041, or Rhonda Barnat, assistant vice president, 212-495-1725, both of The Bank of New York, or Kenneth A. Lopian, vice president-American Depositary Receipts Division, 212-815-2084, for the Bank of New York/ (KOF)
CO: The Bank of New York; Coca-Cola FEMSA, S.A. de C.V. ST: New York IN: FIN FOD SU: OFR
TS -- NY049 -- 2691 09/16/93 12:48 EDT
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|Date:||Sep 16, 1993|
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