Skanska ADR Conversion To Sponsored ADR

Sweden-based Skanska AB, the world’s leading project development and construction group,  converted its American Depositary Receipt (ADR) from an unsponsored program to Sponsored program on June 28,2013.  Previously the ADR used to trade under the ticker SKSBY. The new sponsored ADR ticker is SKBSY. The ratio of ADR to ordinary remains the same at 1:1.

Founded in 1887, Skanska operates in Europe, Americas and the Nordic region. Last year it had 57,000 employees.  The company focuses on construction of residential housing, commercial buildings, roads, and railways, as well as develops and carries out civil engineering projects or public private partnership (PPP) projects. The four major business units are: Construction, Residential Project Development, Commercial Project Development, and Infrastructure Development. The company’s single largest market is the U.S. followed by Sweden.

For more information, checkout Skanska’s Investor Relations site.

Disclosure: No Positions

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