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Depositary Receipts

The New ADR.com Industry Leadership

J.P. Morgan created and launched the first-ever ADR in 1927 for the U.K.’s Selfridges Provincial Stores Limited (now known as Selfridges PLC), the famous British retailer. The first ADR was listed on the New York Curb Exchange, the precursor to the American Stock Exchange and was created to facilitate international equity investments for U.S. investors.

Today, J.P. Morgan provides a full complement of ADR and GDR services to issuers seeking to have their equity traded on exchanges beyond their home markets. J.P. Morgan’s primary services include DR Issuances and Cancellations, Stock Transfer, Tender and Exchange Offer and Subscription Rights Agency services, and Tax Reclamation services for investors.

J.P. Morgan also offers a range of value-added Investor Relations and Advisory services to issuers, with the singular goal of facilitating the DR’s highest potential liquidity, ownership and visibility.


The J.P. Morgan Advantage

Since creating the first ADR in 1927 to allow Americans to invest in the British retailer Selfridge’s, J.P. Morgan has continued to demonstrate and define a leadership role in the DR business. We provide an integrated mix of investment bank, equity capital markets, and advisory expertise for our DR issuers.

This approach offers DR issuers consistent pre- and after-market advisory support as well as excellent access to a highly sophisticated and broad investor base. Coordinated efforts across the bank create effective investor relations and roadshow support, which help our clients develop well-invested, liquid DR programs. Additionally, our market knowledge and high quality deal execution afford us the opportunity to structure innovative and cost-saving DR programs for issuers.

J.P. Morgan is committed to the DR market and to developing long-term relationships with our DR issuers. We commit the entire resources of the firm to build client’s DR market capitalization, trading liquidity and investor ownership.

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