JPMorgan announced Monday that it has kicked off an Allied Telesis Holdings K.K. sponsored American Depositary Receipt program.
Allied Telesis, based in Tokyo, offers IP/Ethernet systems and solutions.
Each of Allied Telesis ADR’s programs will represent five shares traded on the Tokyo Stock Exchange.
“The U.S. market offers great depth and liquidity for international equities, particularly in the technology sector,” says Patrick Colle, JPMorgan global client management executive for DR services. “We look forward to working with Allied Telesis in its entry into the U.S. market, and to help it benefit from the continuous strong US demand for international equities.”