J.P. Morgan has been appointed successor depositary bank for United Microelectronics Corporation’s (‘UMC’) American Depositary Receipt (‘ADR’) program.
Founded in 1980 as Taiwan’s first semiconductor company, UMC is a world-leading semiconductor foundry that manufactures advanced process integrated circuits (ICs) for applications spanning every major sector of the semiconductor industry.
“We are pleased to be working with a world-class bank like J.P. Morgan. Their ability to respond quickly, their proactiveness, and their high standards of customer service is remarkable,” says Chitung Liu, chief financial officer for UMC.
“As a leading depositary receipt bank, we are delighted to be chosen by UMC. We are committed to partnering with our clients as they aim to attract more investments from foreign markets and we look forward to working with UMC to help them achieve this goal in the U.S.,” says Kenneth Tse, Asia Pacific head of J.P. Morgan’s depositary receipts group.
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 ADR and GDR services to issuers seeking to have their equity traded on exchanges beyond their home markets.
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