Deutsche Bank has been appointed as depositary bank for the sponsored Level I American Depositary Receipt (ADR) program of Oriflame Cosmetics.
Founded in 1967 by two brothers and their friend, Oriflame is now an international beauty company selling direct in more than 60 countries worldwide. Oriflame is a Luxembourg company group with corporate offices in Luxembourg and Switzerland. Oriflame is listed on the NASDAQ OMX Nordic Exchange.
Akbar Poonawala, head of Global Equity Services at Deutsche Bank said, We are delighted to be selected as depositary bank for this notable company and look forward to working with Oriflame to further enhance its ADR investor relations and to develop the program.
(JDC)