Deutsche Bank today announced its appointment as successor depositary bank for the NASDAQ-listed American Depositary Receipt (ADR) program of Telefonaktiebolaget LM Ericsson (Ericsson).
Ericsson (NASDAQ: ERIC) is a world-leading provider of communications technology and services. Its offering comprises services, software and infrastructure within Information and Communications Technology for telecom operators and other industries. Today 40 percent of the world's mobile traffic goes through Ericsson networks and it supports customers’ networks, servicing more than 2.5 billion subscriptions. Ericsson comprises more than 110,000 people working with customers in more than 180 countries. In 2012 the company’s net sales were SEK 227.8 billion (USD 33.8 billion).*
Jose Sicilia, Global Head of Global Equity Services, at Deutsche Bank said, “We are pleased to have been appointed successor depositary bank by Ericsson, one of the most prestigious companies in the Nordic region. Deutsche Bank will utilize its broad range of customized services to assist Ericsson in enhancing the visibility of its ADR program with the investor community.”
*Source: Telefonaktiebolaget LM Ericsson (January 2014)