Deutsche Bank Appointed as Depositary Bank for the Level II NYSE-Listed American Depositary Receipt Program of Tenaris S.A.
NEW YORK–(BUSINESS WIRE)– Deutsche Bank today announced its appointment as successor depositary bank for the Level II New York Stock Exchange-listed American Depositary Receipt (ADR) program of Tenaris S.A. (Tenaris).
Tenaris is a leading global manufacturer and supplier of steel tubes and related services for the world’s energy industry and certain other industrial applications. Its customers include most of the world’s leading oil and gas companies as well as engineering companies engaged in constructing oil and gas gathering, transportation, processing facilities. Tenaris’s principal products include casing, tubing, line pipe, and mechanical and structural pipes. Tenaris operates an integrated worldwide network of steel pipe manufacturing, research, finishing and service facilities with industrial operations in the Americas, Europe, Asia and Africa and a direct presence in most major oil and gas markets. Tenaris’s shares are listed on the Borsa Italiana (symbol: TEN.MI), the Bolsa de Comercio de Buenos Aires (symbol: TS.BA), and the Bolsa Mexicana de Valores (symbol: TS:MX) and its ADRs are listed on the New York Stock Exchange (symbol: TS).*
Edwin Reyes, Global Head of Depositary Receipts at Deutsche Bank, said, “We are delighted that Tenaris has chosen to transfer its ADR program to Deutsche Bank. We look forward to working with Tenaris in the management of its program and are committed to providing Tenaris with the highest level of service.”
*Source: Tenaris (March 2013)
About Deutsche Bank Trust & Securities Services
Deutsche Bank’s Trust & Securities Services business, part of Global Transaction Banking, is one of the leading providers of trustee, agent, depositary, registrar, SPV management and related services for a wide range of financial structures and transactions. It is a leading depositary for American and Global Depositary Receipts, providing value-added services to companies raising capital in international markets or listing on the New York, NASDAQ, London, Luxembourg, Singapore or NASDAQ Dubai stock exchanges by means of depositary receipts. It also offers both mutual and alternative fund administration and provides securities custody, clearing and agency lending services from a global network spanning more than 30 markets. Additional details are available on www.adr.db.com or www.tss.db.com.
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 …read more
Source: FULL ARTICLE at DailyFinance
