Deutsche Bank today announced EMEA Finance magazine has bestowed the Bank an Achievement Award for its role on the Nomos Bank Global Depositary Receipt (GDR) program from Russia, with the transaction being named “Best Depositary Receipt (DR) Program in EMEA” for 2011. EMEA Finance’s Achievement Awards highlight leading banks across the Europe, Middle East and Africa (EMEA) region.
Christopher Moore, Publisher and CEO of EMEA Finance magazine, said, “We are proud to recognize Deutsche Bank’s accomplishments as a leading DR bank with our Best DR Program in EMEA Award for 2011. Deutsche Bank’s GDR program created and managed on behalf of Russia’s Nomos Bank helped to pave the way for the Bank’s landmark IPO, which raised $718 million last April. Deutsche Bank acted as depositary bank for the deal, which saw Nomos Bank list on the London Stock Exchange using DRs as well as in Russia. The Nomos transaction stood out not only as the largest ever IPO of a privately-held Russian bank, but also for being fully subscribed even during some challenging times for the global equity markets.”
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank, said, “This award is a testament to our leadership in the EMEA region and we are pleased to be recognized for our outstanding DR execution and product capabilities. Our DR team successfully implemented an innovative structure, which demonstrated our ability to adapt to a changing legal and regulatory environment, ultimately maximizing the offering size for our client, Nomos Bank. We will continue to strive to maintain the highest customer satisfaction and retention levels in the industry.”