The Bank of New York Selected as Depositary by Investcom LLC for its GDR Listing on the London Stock Exchange and the Dubai International Financial Exchange
Investcom Becomes First Company to List in DIFXNEW YORK, October 26, 2005 - The Bank of New York, a global leader in securities servicing, has been selected by Investcom LLC as depositary bank for its dual global depositary receipt (GDR) listing on the London Stock Exchange and the Dubai International Financial Exchange (DIFX). With this transaction, Investcom became the first company to list on DIFX.
Christopher Sturdy, managing director and Head of The Bank of New York’s Depositary Receipt Division, said, "We are pleased to be working with Investcom on this transaction, particularly as it brings depositary receipts to a new part of the world. As the leading depositary bank, we support issuers around the globe and have an unrivaled experience with innovative transactions like this one. We look forward to helping Investcom increase its international profile in the years to come."
Azmi Mikati, chief executive of Investcom, said, "We are delighted to have completed this IPO so successfully. We look forward to continuing to implement our strategy and develop our business as a publicly listed company."
Investcom is an international provider of mobile telecommunications services with operations in eight countries in the Middle East, Africa and Europe. As of June 2005, Investcom had a total of approximately 3.3 million managed customers. Investcom has also recently been awarded GSM licenses to build and operate mobile networks in Afghanistan and Guinea, expanding its operations to ten countries and boosting its combined population under license to approximately 147 million.
The Bank of New York sponsors more than 1,200 American and global depositary receipt programs, a 65% market share, acting in partnership with leading companies from 60 countries. With an unrivalled commitment to helping securities issuers succeed in the world’s rapidly evolving financial markets, the Bank delivers the industry’s most comprehensive suite of integrated depositary receipt, corporate trust and stock transfer services. Additional information is available at www.adrbny.com.
The Bank of New York has been conducting business in the Middle East and Africa for nearly 100 years. The Company has representative offices in Abu Dhabi, Beirut, Cairo, Istanbul, and Johannesburg, and works with a wide range of banks, governments, and other financial institutions throughout the region.
The Bank of New York Company, Inc. (NYSE: BK) is a global leader in providing a comprehensive array of services that enable institutions and individuals to move and manage their financial assets in more than 100 markets worldwide. The Company has a long tradition of collaborating with clients to deliver innovative solutions through its core competencies: securities servicing, treasury management, investment management, and individual & regional banking services. The Company’s extensive global client base includes a broad range of leading financial institutions, corporations, government entities, endowments and foundations. Its principal subsidiary, The Bank of New York, founded in 1784, is the oldest bank in the United States and has consistently played a prominent role in the evolution of financial markets worldwide. Additional information is available at www.bankofny.com.
The Bank of New York provides no advice nor recommendation or endorsement with respect to any company or security. Nothing herein shall be deemed to constitute an offer or solicitation of an offer to buy or sell securities.
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