Deutsche Bank appointed as depositary bank for the American Depositary Receipt program of Longtop Financial Technologies Limited
Deutsche Bank today announced its appointment as depositary bank for the New York Stock Exchange-listed American Depositary Receipt (ADR) program of Longtop Financial Technologies Limited (Longtop).
Longtop (NYSE:LFT) is a leading software developer and information technology (IT) services provider targeting the financial services industry in the People’s Republic of China. Longtop develops and delivers a comprehensive range of software applications and solutions with a focus on meeting the rapidly growing IT needs of the financial services institutions in China. According to IDC, an independent market research company, Longtop were the third largest “banking IT solution provider” in China measured by market share in 2006.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are very pleased to be working with Longtop on its American Depositary Receipt program and look forward to providing our specialized services to ensure that the company’s ADR investors receive the highest level of service. This mandate demonstrates our commitment to the PRC.”
For further information, please call:
Oonagh Baerveldt +44 (0) 20 7547 1605
John Gallagher +1 212 250 4516
About Deutsche Bank
Deutsche Bank is a leading global investment bank with a strong and profitable private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With 77,920 employees in 75 countries, Deutsche Bank offers unparalleled financial services throughout the world. The bank competes to be the leading global provider of financial solutions for demanding clients creating exceptional value for its shareholders and people.
Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of debt financings including bonds, medium term note and commercial paper programs, asset backed and mortgage backed securities, collateralized debt obligations, project financings, escrows and syndicated loans. It is also one of the leading depositaries for American Depositary Receipts (ADRs) and Global Depositary Receipts (GDRs), and, through a fully integrated network of specialist offices worldwide, provides domestic custody services in 28 securities markets.
This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG London.
*Source: Longtop Financial Technologies Limited (October, 2007)
The Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). The investment or investment service which is the subject of this notice is not available to private customers as defined by the UK Financial Services Authority. This notice has been approved and/or communicated by Deutsche Bank AG London. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the details contained herein or therein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance.