Deutsche Bank has been appointed as depositary bank for the sponsored American Depositary Receipt (ADR) program of Duoyuan Global Water Inc.(Duoyuan).
Duoyuan is a China-based domestic water treatment equipment supplier. Its product offerings address the key steps in the water treatment process, such as filtration, water softening, water-sediment separation, aeration, disinfection and reverse osmosis. With over 80 distributors throughout China in 28 provinces, including most of China’s key economic regions, its nationwide distribution network is one of the largest among water treatment equipment suppliers in China.
“We are delighted to be mandated as Duoyuan’s depositary bank for their New York Stock Exchange-listed ADR offering,” says Akbar Poonawala, head of global equity services at Deutsche Bank. “This appointment underscores Deutsche Bank’s commitment to the People’s Republic of China and we look forward to working with Duoyuan on its initiatives to broaden its investor base. Deutsche Bank’s specialized services will be utilized to ensure that the company’s shareholders receive the highest level of service.”
D.C.