JP Morgan has launched an ADR programme for Air China Limited.
Each Air China ADR represents 20 common shares traded on the Hong Kong Stock Exchange (HKEX). Commenting on the ADR program, Air China Executive Director and Chief Financial Officer, Fan Cheng said that Air China was the most profitable airline company in China and the company believed that this Level One American Depositary Receipt (ADR) programme will contribute to continued success and broaden the company’s horizons globally.
“We believe that JP Morgan’s experienced ADR team and platform will both enhance our visibility and broaden our all-important international investor base,” said Fan. Patrick Colle, Global Client Management Executive for DR Services at JP Morgan, said he was delighted Air China had selected JP Morgan as depositary for its ADR programme. “The US market offers tremendous depth and liquidity in all sectors, including the airline industry,” he said. “Air China is the leading airline company in China and we look forward to working with Air China to raise its profile in the US market, and help it benefit from the continuous strong US demand for foreign equities.”