Deutsche Bank launches first Global Depositary Receipt program for a Vietnamese company
Deutsche Bank Trust Company Americas today announced its appointment as depositary bank for the London Stock Exchange-listed Global Depositary Receipt (GDR) program of Hoang Anh Gia Lai Joint Stock Company (HAGL).
HAGL is currently one of the largest private sector companies, by market capitalisation, listed on the HoChiMinh Stock Exchange. HAGL primarily operates in the following business sectors: real estate, rubber plantations, iron ore mining, hydropower and manufacturing. Originally focused in the Gia Lai province of Vietnam, HAGL has expanded its activities throughout Vietnam and into the neighbouring states of Laos and Cambodia. HAGL exports its products throughout Asia, Europe and the Americas.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are delighted to have HAGL as a client and to work on the first depositary receipt program from Vietnam. This pioneering mandate exemplifies our strong capabilities in the depositary receipts business.”
Doan Nguyen Duc, Chairman of HAGL, said, “We are pleased to engage Deutsche Bank as depositary for the first GDR program for a Vietnamese company. The GDR program provides an additional investment and trading venue to our investors.”
Elara Capital plc acted as Lead Manager and book-runner and Sacombank Securities Joint Stock Company acted as Vietnamese financial adviser on this transaction.
*Source: Hoang Anh Gia Lai Joint Stock Company (March 2011)
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Trust & Securities Services
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 financial structures and transactions. It is a leading depositary for American and Global Depositary Receipts, providing value-added services to companies raising capital in international markets or listing on the New York, NASDAQ, London, Luxembourg, Singapore or NASDAQ Dubai stock exchanges by means of depositary receipts. It also offers both mutual and alternative fund administration and provides securities custody, clearing and agency lending services from a global network spanning more than 30 markets. Additional details are available on www.adr.db.com
This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG London.