J.P. Morgan has been appointed depositary bank by Vallourec for its American Depositary Receipt (ADR) program.
Claudine Gallagher, global head of depositary receipts at J.P. Morgan, said: “We are delighted that Vallourec has selected J.P. Morgan as its depositary bank for its ADR program. We look forward to building a long term relationship with Vallourec to support the company’s goal to attract new DR investments and deliver value to its shareholders.”
Vallourec joins a strong roster of major European companies for which J.P. Morgan acts as ADR depositary. J.P. Morgan manages more than 70 blue-chip ADR programs in Europe, including for other French companies such as Danone, Lafarge, sanofi-aventis, BNP Paribas and Peugeot.
J.P. Morgan pioneered the depositary receipts market over 80 years ago, introducing the first-ever DR in 1927. J.P. Morgan provides a full range of American Depositary Receipts (ADRs) or Global Depositary Receipts (GDRs) services to issuers seeking to have their equity traded on exchanges beyond their home markets.
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