Deutsche Bank, a global banking and financial services company, has been selected as the depositary bank for the American Depositary Receipt (ADR) program of Lotus Technology Inc. This collaboration will enable Lotus Technology Inc. to broaden its shareholder base by facilitating easier access for investors in the United States to acquire its securities.
Lotus Technology Inc. (NASDAQ: LOT) is a well-established luxury electric vehicle manufacturer focused on sustainable luxury mobility. The company is dedicated to the advancement of cutting-edge technologies, including autonomous driving, lightweight engineering, and high-performance architectures. With the appointment of Deutsche Bank as its depositary bank, Lotus Technology Inc. aims to fortify its presence in the global market and attract more investors.
Deutsche Bank is a leading custodian bank with a robust presence in the financial industry. The bank offers a diverse range of services tailored to meet the requirements of corporates, financial institutions, hedge funds, and supranational agencies. These services encompass trustee, agency, escrow, and related services, as well as the administration of cross-border equity structures such as ADRs, New York Shares, and Global Depositary Receipts.
Lotus Technology Inc.’s sponsored ADR program will be managed by Deutsche Bank AG, Hong Kong Branch, commencing from February 23, 2024. The ADRs will be traded on the NASDAQ exchange under the symbol “LOT,” with a current ratio of 1 ADS to 1 ordinary share. The ADRs have been registered in compliance with the US Securities Act of 1933 and are eligible with DTC.
In addition to serving as the custodian bank for Lotus Technology Inc.’s ADR program, Deutsche Bank provides commercial and investment banking, retail banking, transaction banking, and asset and wealth management products and services to a diverse client base, including corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. The bank holds a strong position in Europe, a significant presence in the Americas and Asia Pacific, and is recognised as Germany’s leading bank.
It is imperative to note that the investment or investment service related to this announcement is not accessible to retail clients as defined by the UK Financial Conduct Authority. This announcement has been approved and/or communicated by Deutsche Bank AG New York and the services described in this announcement 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 this announcement for informational purposes and does not make any claims or statements about the accuracy or completeness of the details contained herein.
Overall, the appointment of Deutsche Bank as the depositary bank for Lotus Technology Inc.’s ADR program represents a significant milestone for both companies. This partnership will facilitate greater access to Lotus Technology Inc.’s securities for investors in the United States and enhance the company’s visibility in the global market.
For further information regarding the ADR program, interested parties can contact the following individuals at Deutsche Bank:
– Daniel Clark, Head of Depositary Receipts, New Business Development
Tel: +65 64237944
– William Ng, Head of Depositary Receipts, Hong Kong
Tel: +852 2203 7889
– Markets Distribution, London
Tel: +44 (0) 20 7547 6500
– Markets Distribution, New York
Tel: +1 212 250 9100
For press and media inquiries, please contact:
Deutsche Bank AG – Press & Media Relations
Dylan Riddle
Tel. +12122504982
Cell. +1(904)3866481
[email protected]
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