Finance History | 11 Wall Street — An INVESCO Receipt Book on the New York Tape
· 1995-8
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Finance History | 11 Wall Street — An INVESCO Receipt Book on the New York Tape
kevin
People treat Invesco as an Atlanta asset manager that always printed IVZ after a finished New York book.
The August 1995 issuer was INVESCO PLC, a London-listed investment manager that had taken that name in 1993 after the earlier Britannia Arrow combination.
An archived company history page dates an American Depositary Receipt listing on the New York Stock Exchange to 25 August 1995.
Market-data services that keep a continuous IVZ tape commonly start that series on 24 or 25 August 1995.
The New York book was a receipt against London ordinary shares, not a first-time flotation of the manager itself.
On 28 February 1997 INVESCO merged with AIM Management Group and the listed name became AMVESCAP PLC, with the New York receipts later printing AVZ.
MarketWatch dated 24 May 2007 recorded that shareholders approved the Invesco name and that London ordinary shares and New York receipts began printing IVZ that day.
The letters IVZ still open on this exchange.
The mechanism is a London fund manager adding a New York receipt tape first, then collapsing two brands into one listed name years later.
The pin is the Broad Street facade of the Exchange on the morning the receipt book opened.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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