J.P. Morgan has been appointed depositary bank by the India-based producer of synthetic, cotton and blended yarns, Jindal Cotex.
It follows the company’s recent USD38.5m global depositary receipt listing on the Luxembourg Stock Exchange.
“We are extremely pleased to have launched our GDR offering in Europe,” says Sandeep Jindal, managing director of Jindal Cotex. “J.P. Morgan’s depositary receipts team was selected for its recognised leadership and expertise and its remarkable professionalism.”
Kenneth Tse, Asia Pacific head of J.P. Morgan’s depositary receipts group, adds: “We are extremely pleased to have been appointed by Jindal Cotex as its depositary bank. Our extensive experience in this area and our ability to deliver the right solution to the client were key factors in securing this business. We welcome this first opportunity to work with Jindal Cotex and we look forward to building a long-term relationship."
