Deutsche Bank today announced its appointment as depositary bank for the sponsored Level I American Depositary Receipt (ADR) program of Asian Bamboo AG (Asian Bamboo).
Asian Bamboo, a leading company in the bamboo industry in China, owns the leasing rights to 27 bamboo plantations with a total plantation size of 31,279 ha. The company harvests and distributes organically grown bamboo shoots and bamboo trees. Its bamboo shoots are exported to Japan and sold all over China through a variety of channels, including wholesale markets, supermarket and industrial buyers. The company’s bamboo trees are used for scaffolding or as input material in a growing number of industries such as flooring, plywood, furniture, textiles, pulp and paper.
As a National Key Flagship Enterprise, the company is at the forefront of developing the agriculture industry in China which helps raise farmers’ incomes and increases output. Asian Bamboo has obtained organic food accreditations in China, Japan, Europe and the United States in addition to its HACCP and ISO9001 certifications. Asian Bamboo was recently ranked as the 17th fastest growing company in China by Forbes China Magazine. More information about Asian Bamboo can be obtained from its website at www.asian-bamboo.com.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are pleased to be appointed as depositary bank for Asian Bamboo, a respected company in the renewable resources sector. Deutsche Bank’s range of customized ADR related services will be used to assist Asian Bamboo to enhance its ADR program visibility and broaden its investor base.”
*Source: Asian Bamboo AG (January 2010)
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