J.P. Morgan has been appointed depositary bank for the Level 1 American Depositary Receipt (ADR) program of Smiths Group plc, the FTSE 100 global technology company.
Claudine Gallagher, global head of depositary receipts at J.P. Morgan, said: “We are very pleased that Smiths Group has selected J.P. Morgan as its depositary bank for its ADR program. We look forward to building a long term relationship with Smiths to support the company’s business expansion plans and to increase its visibility to the US investor community.”
Peter Durman, Investor Relations Director, Smiths Group, said: “The US, with over half our Group sales and home to 9,400 employees, is an important market where we see significant opportunity to grow our investor base. Our sponsorship of this ADR program and partnership with J.P. Morgan will help us realise our ambitions to expand our investor presence in the US capital markets.”
J.P. Morgan maintains an extensive European client base, managing more than 70 blue-chip ADR programs in the region.
J.P. Morgan pioneered the depositary receipts market over 80 years ago, introducing the first-ever DR in 1927. J.P. Morgan provides a full range of American Depositary Receipts (ADRs) or Global Depositary Receipts (GDRs) services to issuers seeking to have their equity traded on exchanges beyond their home markets.
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