J.P. Morgan has been appointed depositary bank by Acquity Group, a Brand eCommerce and digital marketing firm.
The American depositary receipt (ADR) listing saw Acquity Group and some shareholders raise 5,555,556 American depositary shares at $6 per share.
As a natural evolution of our strong growth in providing Brand eCommerce services to leading brands in the US and globally, we decided to pursue a listing in the United States, where our business was founded more than 11 years ago, says George G. Lu, executive chairman of Acquity Group. We chose J.P. Morgan as our depository bank based on their established global reputation in the DR business and their extensive experience in helping companies tap new markets. This listing forms a crucial part of our long-term strategy and we look forward to an ongoing partnership with J.P. Morgan as we continue our growth globally.
Kenneth Tse, Asia-Pacific head of J.P. Morgans depositary receipts group, adds: We are very pleased to have partnered with Acquity Group on this important phase in their expansion. We thank the team at Acquity Group for giving us an opportunity to help them achieve this strategic objective, and we look forward to building this important relationship and providing a strong foundation for their future success.
(CG)