J.P. Morgan has been appointed the successor depositary bank for the American Depositary Receipt (ADR) program of TNT, the Netherlands-based international Express and Mail company.
TNT is the latest European company to move its depositary receipt program to J.P. Morgan. Other European blue chip companies that have recently moved their programs to J.P. Morgan include Sanofi-aventis, Barclays and Roche. J.P. Morgans other European DR clients include AstraZeneca, BP, ING Groep and Novartis.
We are delighted to be appointed as depositary bank for TNT, says Alex Hickson, head of depositary receipts sales and relationship management for J.P. Morgan, EMEA. We look forward to working with a leading and international company like TNT to help it benefit from the additional demand for its shares that results from a successful ADR program.
L.D.