Remco, a tourism villages construction firm, has appointed JP Morgan as depositary bank for its American Depositary Receipt (ADR) programme.
This is the first depositary receipt programme in the Middle East and North Africa since 2009 and JP Morgan’s first ADR programme in Egypt – the largest DR market in the region.
Ayoub Adly Ayoub, Remco’s chief executive officer (CEO), said: “Through this ADR programme we plan to support our business expansion plans and increase our visibility to the international investor community. The JP Morgan team clearly demonstrated strong credentials and an in-depth knowledge of the ADR market and we believe their investor relations experience will be invaluable in achieving our aims.”
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