Schering AG listed at NYSE; strengthens its activities in the USA

16-Oct-2000

Berlin, Germany, October 12, 2000; As of today, Schering AG is listed on the New York Stock Exchange (NYSE) under the ticker symbol SHR.

“Our listing on the New York Stock Exchange strengthens our activities in the North American market and will broaden our shareholder base in the USA in the medium term,” said Chairman of the Board of Executive Directors of Schering AG, Dr. Giuseppe Vita, in New York. “The listing enables us to introduce a stock option program for our employees in the United States, which gives us more competitive leverage in attracting highly qualified personnel. In addition, we are now in a position to make use of our shares in acquiring other companies in the USA”.

Schering AG’s shares will be traded in New York as American Depositary Receipts (ADR), which will be issued by J.P. Morgan. One ADR will represent one ordinary Schering AG share. Schering AG is not raising capital. In its financial reporting, Schering AG observes International Accounting Standards (IAS); its annual statement of accounts will additionally include a reconciliation of the company’s financial statements prepared in accordance with IAS to United States Generally Accepted Accounting Principles (US GAAP).

Prior to the New York listing, Schering AG undertook an extensive roadshow visiting the most important financial markets of Europe and North America, in which all members of the Executive Board of Schering AG took part. Professor Klaus Pohle, Vice Chairman of the Board of Executive Directors and CFO of Schering AG, emphasized: “ Many institutional investors in the USA are restricted to investing in stocks which are quoted on the New York Stock Exchange. They now have the opportunity to invest in Schering AG”. Professor Pohle continued: “Schering AG so far is the top performer within the Dax 30 index. With its successful activities, for example in the field of biotechnology, as well as with its well-stocked pipeline, the company offers investors excellent perspectives”.

https://www.chemeurope.com/en/news/195/schering-ag-listed-at-nyse-strengthens-its-activities-in-the-usa.html