E-House As JPMorgan’s New Depositary Receipts Services Client
HONG KONG, 14 August 2007 – JPMorgan announced today that it acts as depositary bank for E-House (China) Holdings Limited (“E-House”). On 13 August 2007, E-House completed its level 3 initial public offering of American Depositary Receipts (“ADRs”) on the New York Stock Exchange (“NYSE”).
Each E-House ADR represents one common share. A total of 16,790,000 American Depositary Shares were sold in the offering at a price of US$13.80 per ADR, resulting in a total offering size of US$231,702,000.
E-House is a leading real estate services company in China. It provides primary real estate agency services, secondary real estate brokerage services as well as real estate consulting and information services.
“We selected JPMorgan as depositary bank because of its proven track record in this field. We aim to broaden our investor base in the US and we believe JPMorgan will help us reach this goal”, commented Li-Lan Cheng, Chief Financial Officer from E-House.
“Our determination to continuously assist Chinese companies, listing in the US through the DR vehicle, has allowed JPMorgan to introduce many value-added services to its clients, and we look forward to working with E-House on its ADR program”, 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-US issuers seeking to have their equity traded in the US 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.
About JPMorgan Chase
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $1.5 trillion and operations in more than 50 countries. JPMorgan Chase serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its JPMorgan and Chase brands. Information about the firm is available at www.jpmorganchase.com.
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