J.P. Morgan has been appointed as depositary bank for the American Depositary Receipt (‘ADR’) program of Shanda Games Limited (‘Shanda Games’), one of China’s largest online game providers.
Shanda Games is an online game developer, operator and publisher in China. The Firm offers a diversified game portfolio, which includes multiplayer online role-playing games and advanced casual games in China, targeting a large and diverse community of users.
“We are proud to be involved in this landmark IPO listing, which is the largest ever sole U.S. listed IPO issued by a Chinese company and one of the largest IPOs in the U.S. this year to date. We look forward to continuing to work with Shanda Games to help them grow their investor base in the U.S.,” says Kenneth Tse, Asia Pacific Head of J.P. Morgan’s Depositary Receipts Group.
“We have selected J.P. Morgan for their extensive experience in servicing ADR issuers and shareholders as well as their strong global franchise and experience in Asia. We are confident in their ability to help us build a successful ADR program. We have been particularly impressed with their customer-focused approach and their Investor Relations Advisory services,” says Richard Wei, Chief Financial Officer of Shanda Games.
J.P. Morgan pioneered the Depositary Receipt market over 80 years ago, introducing the first-ever DR in 1927. J.P. Morgan provides a full range of ADR and GDR services to issuers seeking to have their equity traded on exchanges beyond their home markets.
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