Deutsche Bank today announced its appointment as depositary bank for the capital raising sponsored Level III New York Stock Exchange-listed American Depositary Receipt (ADR) program of 500.com Limited (500.com).
500.com (NYSE:WBAI) is a leading online sports lottery service provider in China with the largest market share in the first six months of 2013, and the second largest market share in 2012 in terms of purchase amount of sports lottery products, according to the iResearch Report. The company acts as an aggregator and processor of lottery purchase orders from its registered user accounts and derives a substantial portion of its revenues from service fees. The company offers a comprehensive and integrated suite of online lottery services, information, user tools and virtual community venues to its users.*
Mrugank Paranjape, Asia Pacific Head of Trust & Securities Services and Cash Management for Financial Institutions, Global Transaction Banking at Deutsche Bank said, “We are delighted to be chosen by 500.com as its depositary bank. This new appointment reaffirms Deutsche Bank’s commitment to clients in the People’s Republic of China. By leveraging our customized value-added services, 500.com will be able to enhance its investor relations strategies and shareholder bases.”
*Source: 500.com Limited (November 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.