J.P. Morgan Appointed Depositary Bank by IFM Investments Ltd.
Hong Kong - J.P. Morgan announced today that it has been appointed depositary bank by IFM Investments Ltd. in connection with its recent initial public offering of 12.5 million American Depositary Shares.
IFM Investments is the exclusive franchisor for CENTURY 21® in China. The company runs the largest network of real estate brokerage offices in China and its network covers 34 cities, with more than 4.7 million property listings.
Kevin Yung, executive vice president at IFM Investments Ltd. was impressed with the level of service and experience provided by J.P. Morgan: “The J.P. Morgan team clearly demonstrated an in-depth knowledge of the ADR market and their investor relations experience was invaluable during the IPO process. We look forward to further developing our ADR program to support our business expansion plans.”
Kenneth Tse, Asia Pacific head of J.P. Morgan’s depositary receipts group said about the deal: “We are very pleased to be appointed depositary bank by IFM Investments. Being selected to manage this ADR program again demonstrates J.P. Morgan’s leadership position and ability to help China-based companies access overseas investors.”
J.P. Morgan launched the first depositary receipt program in Asia in 1961 for Sony, and serves as depositary bank for leading companies throughout the region. J.P. Morgan provides a full range of American Depositary Receipt (’ADR’) and Global Depositary Receipt (’GDR’) services to issuers seeking to have their equity traded on exchanges beyond their home markets.
For market information on depositary receipts and international equities, please go to J.P. Morgan’s award-winning web site www.adr.com. More information on J.P. Morgan’s depositary receipt services is also available on www.jpmorgan.com/visit/adr.
About IFM Investments Limited
IFM Investments Limited (“Century 21 China”) (NYSE: CTC) is a leading comprehensive real estate services provider with the largest network of real estate sales offices and the exclusive franchisor for the CENTURY 21® brand in China. Century 21 China primarily focuses on China’s fast-growing and highly fragmented secondary real estate market, providing company-owned brokerage services, franchise services and mortgage management services. Century 21 China has experienced substantial growth since it commenced operations in 2000, supported by its information systems and training programs. Over the past ten years, it has received numerous awards and recognitions for its service quality and business achievements, including “Highly Appraised Franchisor Award” by the China Chain Store and Franchise Associate in 2008 and 2009, “Prominent Real Estate Services Provider” by Sina.com in 2008 and “Most Reputable Real Estate Services Provider” by Sohu.com in 2009. For more information about Century 21 China, please visit http://www.century21cn.com/english.
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of JPMorgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm’s unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $14.9 trillion in assets under custody and $5.1 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. In Asia Pacific, J.P. Morgan operates through 26 offices in 15 countries and has developed its wholesale banking franchise during a history of almost 160 years in the region. More information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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