J.P. Morgan today announced it has been selected by Santander Mexico to act as depositary bank for the company’s American Depositary Receipt (ADR) program in relation to its recent initial public offering (IPO) of USD 4.1 billion, the largest equity offering and IPO ever in Mexico. The NYSE-listed ADRs trade under the symbol BSMX.
Santander Mexico is one of Mexico’s leading financial services holding companies and provides a wide range of financial services, including retail and commercial banking, securities underwriting, brokerage, custody services, and asset management.
“This mandate further strengthens our relationship with Banco Santander, as we currently manage existing ADR programs for shares of Santander’s Spanish, Chilean and Brazilian units,” said Dennis Bon, global head of depositary receipts at J.P. Morgan. “The appointment demonstrates our ability to offer holistic and strategic services to clients via the partnership between the depositary receipts group and the Investment and Corporate Banking teams.”
Santander Mexico joins a line-up of leading Latin American companies for which J.P. Morgan acts as depositary bank. J.P. Morgan manages some of the top ADR programs in the region, including: Cementos Pacasmayo, LAN Airlines, Ecopetrol, Banco Santander-Chile, Telecom Argentina, Embraer, Companhia Siderúrgica Nacional (CSN), Eletrobrás, Hypermercas, and Vale.J.P. Morgan pioneered the depositary receipts market more than 85 years ago, introducing the first-ever DR in 1927. J.P. Morgan provides a full range of ADR, GDR and HDR services to issuers seeking to have their equity traded on exchanges beyond their home markets. For market information on depositary receipts and international equities, please go to www.adr.com. More information on J.P. Morgan’s depositary receipt services is also available on www.jpmorgan.com/visit/adr. About Grupo Financiero Santander Mexico, S.A.B. de C.V. (NYSE: BSMX; BMV: SANMEX) Grupo Financiero Santander México, S.A.B. de C.V. (Santander México) is one of Mexico's leading financial services holding companies, provides a wide range of financial and related services, including retail and commercial banking, securities brokerage, financial advisory, and other related investment activities. Santander Mexico offers a financial services platform focused on mid- to high-income individuals and small- to medium-sized enterprises, while also providing integrated financial services to larger multinational companies in Mexico. As of September 30, 2012, Santander Mexico had total assets of Ps.771.4 billion under Mexican Banking GAAP and more than 9.7 million customers. Headquartered in Mexico City, Santander Mexico operates 1,123 branches located throughout Mexico and has a total of 12,766 employees.