investors recognize the benefits of international investing through Depositary
Receipts and we anticipate current growth rates will continue throughout 1994," said Kenneth Lopian, Senior Vice President in charge of The Bank of New York's Depositary
Receipts Group said the trends to watch in 2007 include:
We expect a significant number of Depositary
Receipt programs to be established over the next three years in China," said Joseph M.
Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act").
For each depositary
share called for redemption, the holder will receive 0.
JPMorgan is the leading depositary
bank in Latin America, maintaining more than 65% of the Brazilian ADR market as measured by ADRs held by institutional investors (based on most recent Form 13F filings with the SEC).
The record date for the determination of Depositary
Shares to be redeemed will be Aug.
Of the 11,114,000 outstanding depositary
shares, 3,700,000 will be redeemed.
Hsieh, the CFO of New Oriental, "With Deutsche Bank as our depositary
bank and trusted partner, we will continue our best efforts to make New Oriental Education & Technology Group an attractive investment opportunity for existing as well as new investors"
Half of the $10 billion raised utilized the Citibank-developed Rule 144A ADR (RADR) and Global Depositary
Receipt (GDR) structures, illustrating their substantial influence on the evolution of the depositary
receipt from a purely investor-driven service to being an important capital-raising structure.
From the redemption date forward, dividends will no longer accrue and holders will have no rights other than the right to receive the redemption price, without interest, upon surrender of the Series C Depositary
NASDAQ-NMS: CABK; CABKZ) clearing the way for the proposed issuance and sale of a $12 million issue of depositary
shares each representing a 1/25th interest in a share of Capital Bancorporation, Inc.