NEW YORK & HONG KONG--(BUSINESS WIRE)--Deutsche Bank today announced its appointment as depositary bank for the non-capital raising sponsored Level I American Depositary Receipt (ADR) program of HK Electric Investments and HK Electric Investments Limited (collectively, HKEL).
HKEL (OTC US: HKVTY) is the first fixed single investment trust in Hong Kong with a focus on the power industry. Its wholly-owned operating company, The Hongkong Electric Company, Limited (HK Electric) is one of the world’s longest established utility companies, first commencing operations in 1890. HK Electric is a vertically integrated power utility and its operations comprise the generation, transmission, distribution and supply of electricity to Hong Kong Island and Lamma Island. HK Electric is the sole electricity provider to Hong Kong Island and Lamma Island.*
Philip Tiffin, Asia Pacific Head of Issuer Services Sales, Global Transaction Banking at Deutsche Bank, said: “We are delighted to be HKEL’s depositary bank of choice. This notable mandate exemplifies our strong capabilities in ADR depositary services and global network. We look forward to providing HKEL with the highest level of customized services to optimize the visibility of its ADR program and broaden its investor base."
*Source: HK Electric Investments and HK Electric Investments Limited (August 2014)
This announcement appears as a matter of record only. This announcement has been approved and/or communicated by Deutsche Bank AG New York.
American Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). The investment or investment service which is the subject of this notice is not available to retail clients as defined by the UK Financial Conduct Authority. This notice has been approved and/or communicated by Deutsche Bank AG New York. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the details contained herein or therein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Copyright© August 2014 Deutsche Bank AG. All rights reserved.