SBI Holdings Names JP Morgan as Depositary Bank

JP Morgan has been named depositary bank for SBI Holdings’ Hong Kong depositary receipt (HDR) listing on the Stock Exchange of Hong Kong, becoming the first Asian company to execute an HDR listing.

SBI raised US$207m after issuing 20,000,000 HDRs at an issue price of US$10.35 (HKD80.23) per unit, which includes the over allotment option exercised by the underwriters. With the development of its domestic Japan business largely complete, SBI will use the capital raised to expand its operations internationally, with a specific focus on high growth markets in Asia.


Related reading

New consumer banking head for Citi Asia Pacific