Santander Mexico appoints JPMorgan as depositary bank for ADR program
Date: Nov 21, 2012
Categories: Markets & Exchanges
Keywords: Santander Mexico, JPMorgan
New York, November 15th 2012 – J.P. Morgan today announced it has been selected by Santander Mexico to act as depositary bank for the company’s American Depositary Receipt (ADR) program in relation to its recent initial public offering (IPO) of USD 4.1 billion, the largest equity offering and IPO ever in Mexico. The NYSE-listed ADRs trade under the symbol BSMX.
Santander Mexico is one of Mexico’s leading financial services holding companies and provides a wide range of financial services, including retail and commercial banking, securities underwriting, brokerage, custody services, and asset management.
“This mandate further strengthens our relationship with Banco Santander, as we currently manage existing ADR programs for shares of Santander’s Spanish, Chilean and Brazilian units,” said Dennis Bon, global head of depositary receipts at J.P. Morgan. “The appointment demonstrates our ability to offer holistic and strategic services to clients via the partnership between the depositary receipts group and the Investment and Corporate Banking teams.”
Santander Mexico joins a line-up of leading Latin American companies for which J.P. Morgan acts as depositary bank. J.P. Morgan manages some of the top ADR programs in the region, including: Cementos Pacasmayo, LAN Airlines, Ecopetrol, Banco Santander-Chile, Telecom Argentina, Embraer, Companhia Siderúrgica Nacional (CSN), Eletrobrás, Hypermercas, and Vale.
Re-disseminated by The Asian Banker