Deutsche Bank announced its appointment as depositary bank for the New York Stock Exchange-listed American Depositary Receipt (ADR) program of Vipshop Holdings Limited (Vipshop).
Vipshop is China’s leading online discount retailer for brands as measured by total revenues in 2010, the number of registered members as of June 30, 2011 and the number of monthly unique visitors in December 2011, according to a report prepared by Frost & Sullivan. Vipshop offers high-quality branded products to consumers in China through flash sales on its vipshop.com website. Vipshop had 12.1 million registered members and over 1.7 million cumulative customers and promoted and sold products for over 1,900 popular domestic and international brands as of December 31, 2011.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We welcome Vipshop to Deutsche Bank’s depositary receipts platform. We look forward to working with them to enhance their IR strategies and shareholder bases.”
*Source: Vipshop Holdings Limited. (March 2012)