Deutsche Bank was appointed depositary bank for the London Stock Exchange-listed Global Depositary Receipt (GDR) program of Kcell Joint Stock Company.
Kcell is a provider of mobile telecommunications services in Kazakhstan. It has operated since 1998 and has approximately 12.7 million subscribers, which the company estimates represents market share of 48%.
I am delighted with Kcells decision to appoint Deutsche Bank as its depositary, says Akbar Poonawala, head of Global Equity Services at Deutsche Bank. This further strengthens our position as a leading global depositary bank.