Manila Electric Co. Unsponsored ADR

Manila Electric Co. Unsponsored ADR represents American Depositary Receipts referencing shares of Manila Electric Company, known as Meralco, a leading electric utility in the Philippines. As an unsponsored ADR, it is issued without direct involvement from Manila Electric Co., allowing U.S. investors to access Philippine equity through the conversion rate of one ADR to two ordinary shares. Meralco’s principal role is the generation, distribution, and retail supply of electricity across Metro Manila and surrounding areas, providing critical infrastructure to support urban and industrial growth. The company also engages in related services, including electro-mechanical engineering, construction, consulting, and light rail maintenance, under its diversified services segment. Founded in 1903 and headquartered in Pasig, Philippines, Manila Electric Co. holds significant market presence as the exclusive power distributor in Metro Manila, impacting millions of residents and businesses while underpinning the region's economic activity. The ADR structure broadens market access and international visibility for this essential Southeast Asian utility.