J.P. Morgan Re-appointed Depositary Bank by Chunghwa Telecom, Co. LTD.
HONG KONG, – J.P. Morgan today announced it has been re-appointed as depositary bank for leading Taiwanese telecommunications company, Chunghwa Telecom Co. Ltd (“CHT”).
The renewed mandate further strengthens the global relationship between the two companies, and reflects the firm’s continued focus on successfully assisting its ADR clients in achieving their objectives. CHT, which runs one of Asia Pacific’s largest American Depositary Receipt (“ADR”) programs on the New York Stock Exchange at approximately USD 2.4 billion, first engaged J.P. Morgan as depositary receipt bank in 2007.
Dr. Shu Yeh, Chief Financial Officer, CHT, said: “Throughout our three year relationship with J.P. Morgan, we have been constantly impressed by their commitment to our business. In J.P. Morgan, we have found a strategic partner that can deliver advice at a global level and support their recommendations through an experienced team of DR professionals around the world. We look forward to continuing our close relationship with a true market leader.”
Kenneth Tse, Asia Pacific Head of J.P. Morgan’s depositary receipts group, said: “Over the years, J.P. Morgan has continued to invest significantly in its global DR platform to ensure that we grow with our clients and remain well placed to meet their evolving needs. CHT is one of the region’s leading telecommunications companies, running one of the largest ADR programs in Asia Pacific. We are delighted to have played an important role in supporting their growth, and we’re ready to join them on the next stage of their journey.”
J.P. Morgan is committed to working closely with its clients to design and implement customized depositary receipt (’DR’) programs to achieve their strategic goals and facilitate DR liquidity.
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 more information on depositary receipts and international equities, please visit J.P. Morgan’s award-winning website, www.adr.com.
About Chunghwa Telecom Co. Ltd. Chunghwa Telecom Co. Ltd.
(“CHT”) is the leading telecommunications service provider in Taiwan. CHT provides fixed line services, mobile services and internet services to residential and business customers in Taiwan. Further details are available at www.cht.com.tw/ir.
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, WSS leverages the firm’s global scale, leading technology and deep industry expertise to service investments around the world. It has $15.9 trillion in assets under custody and $6.7 trillion in funds under administration. For more information, go to www.jpmorgan.com/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1 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. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
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