Cashbuild www.cashbuild.co.za , the largest retailer of building materials in Southern Africa, yesterday launched its American Depositary Receipt  Programme on the over-the-counter market in the United States through a sponsored ADR programme with BNY Mellon. 
Each Cashbuild DR represents one ordinary share and trades on the OTC market in the US under the symbol “CBUDY.”  Cashbuild ordinary shares trade on the JSE under the symbol “CSB.”

Werner de Jager, CEO of Cashbuild, explains the rationale for the programme, “We aim to provide access to investors who would not normally be able or allowed to invest in Cashbuild. A benefit of the DR programme is that it is a way to boost awareness about Cashbuild and attract more attention amongst the US financial community.

The investment proposition for US investors is that they can now buy a dollar denominated share in a South African based company with a long and stable history of sustainable growth in southern Africa.Lauren de Klerk, Vice President of BNY Mellon's Depositary Receipts business, says that DRs are gaining in popularity amongst South African counters.  “Today 34 of the JSE top 40 have a DR programme. Three companies established programmes on the US market in the last month with BNY Mellon. Growthpoint www.growthpoint.co.za , a property company, which also listed its ADR programme yesterday and Redefine Properties www.redefine.co.za  ADR programme listed on 6 September 2013. More programmes will follow and we will work closely with Cashbuild to enhance its profile and meet its objectives,” she says.
About Cashbuild

Cashbuild (JSE:CSB)  is the largest retailer of building materials and associated products, selling directly to cash-paying customers through its 203 (and growing) stores in South Africa, Namibia, Lesotho, Botswana, Swaziland and Malawi. The business which employs more than 4 500 people, comprises Cashbuild Limited and the operating subsidiaries registered in six countries.

Cashbuild is the first choice retailer in its chosen field in all the regions in which it operates. It achieves this by carrying a focused in-depth quality product range at the most competitive prices, to meet the needs of the local market for homebuilders, home improvers, contractors, farmers, traders and anyone else wanting to purchase quality building materials for cash.

About DRs and BNY Mellon

·34 of the JSE top 40 have a DR programme.

·BNY Mellon is the market leader in DRs worldwide with 82% market share in South Africa.

.The US market has more than one trillion dollars invested in DRs.

·DRs increase liquidity on the JSE which drives up prices through increased demand. An independent study of 628 companies was performed and findings showed that within the first year of establishing a DR programme, liquidity increased by 48% on average and share prices increased by an average of 30%.

BNY Mellon acts as depositary for more than 2,700 American and global depositary receipt programs from 68 countries. Learn more at www.bnymellon.com
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets.  BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation