JPMorgan Acts As Depositary Bank For Yingli Green Energy’s Newly Launched American Depositary Receipts Program
HONG KONG,- JPMorgan Chase Bank, N.A. (“JPMorgan”) announced today that it acts as depositary bank for Yingli Green Energy Holding Company Limited (“Yingli Green Energy”). On 13 June 2007, Yingli Green Energy completed its level 3 new initial public offering of American Depositary Receipts (ADRs) on the New York Stock Exchange (“NYSE”).
Each Yingli Green Energy ADR represents one common share. A total of 29,000,000 American Depositary Shares were sold in the offering at a price of US$11 per ADR, resulting in a total offering size of US$319 million.
Yingli Green Energy is a vertically integrated photovoltaic (“PV”) product manufacturer in China. It designs, manufactures and sells PV modules, and designs, assembles, sells and installs PV systems that are connected to an electricity transmission grid or those that operate on a standalone basis.
“We are very pleased to have appointed JPMorgan and its highly skilled team to act as the depositary bank for our ADR program. With vertically integrated solar sector capabilities, we wanted to partner with a bank that would give us confidence by strong credentials and impressive results from the past to ensure our ADR listing success. JPMorgan is such bank”, commented Bryan Li, Chief Financial Officer of Yingli Green Energy.
“JPMorgan maintains a leading position in the Depositary Receipts (”DR“) market, focusing on premium, high value added services. We are pleased to act as depositary bank for Yingli Green Energy, and look forward to helping the company benefit from the US demand for international equities”, commented Kenneth Tse, JPMorgan’s Senior Vice President and Head of Asia Pacific Regional Depositary Receipts Group.
JPMorgan provides a full complement of ADR services to non-U.S. issuers seeking to have their equity traded in the U.S. stock markets. JPMorgan’s primary services include ADR Issuances and Cancellations, Stock Transfer, Tender and Exchange Offer and Subscription Rights Agency services; and, Tax Reclamation services for investors. For market information on ADRs and international equities go to JPMorgan’s award-winning Web site www.adr.com For more information on JPMorgan’s ADR services go to http://www.jpmorgan.com/visit/adr
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