Deutsche Bank today announced its appointment as depositary bank for the non-capital raising sponsored Level I American Depositary Receipt program of Inchcape plc (“Inchcape”).
Inchcape (OTC:INCPY) is a leading global premium automotive group, operating in 29 markets with a portfolio of the world's leading car brands in the fast-growing luxury and premium segments. Inchcape has diversified multi-channel revenue streams including the sale of new and used vehicles, parts, service, finance and insurance. The Company has been listed on the London Stock Exchange since 1958, is headquartered in London and employs around 16,000 people.
“We are delighted to be appointed as depositary bank for Inchcape’s Level 1 ADR program,” said Brian Studdert, Global Head of Depositary Receipts at Deutsche Bank. “Deutsche Bank’s broad range of customized ADR related services will enhance Inchcape’s visibility to the US investment community.”
Deutsche Bank’s Depositary Receipts team is part of the Issuer Services business within the Bank’s Global Securities Services unit.
In addition to specializing in administering cross-border equity structures such as American and Global Depositary Receipts, Issuer Services provides corporates, financial institutions, hedge funds and supranational agencies around the world with trustee, agency, escrow and related services. The Bank offers a very broad range of services for diverse products, from complex securitizations and project finance to syndicated loans, debt exchanges and restructurings.