Hong Kong, June 29, 2010 - Charm Communications Inc, a leading provider of integrated advertising agency services in China has appointed J.P. Morgan as its depositary bank for its listed American Depositary Receipt (ADR) program.
Listed on the NASDAQ under the symbol CHRM, Charm Communications raised US$ 74.22 MM through issuance of 7,812,500 American Depositary Shares, each representing two ordinary shares, in its initial public offering. Each ADR was priced at USD 9.50.
"We are extremely proud to have successfully launched our ADR program, which confirms our ongoing commitment to the U.S. investor market", said Mr. Zhou Wei, CFO of Charm Communications. "J.P. Morgan's depositary receipts team has been selected for its recognized leadership and expertise and remarkable professionalism."
Kenneth Tse, Asia Pacific head of J.P. Morgan's depositary receipts group added: "In a year of gradual economic recovery, we are delighted to be working with Charm Communications to help them achieve their strategic goals and raise their international profile in the US market."
J.P. Morgan is committed to working closely with its clients to design and implement customised depositary receipt ('DR') programs to achieve their strategic goals and facilitate DR liquidity.
J.P. Morgan launched the first depositary receipt program in Asia in 1961 for Sony and serves as depositary bank for leading companies throughout the region. J.P. Morgan provides a full range of ADR and Global Depositary Receipt ('GDR') 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 visit J.P. Morgan's award-winning web site www.adr.com.
About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A division of J.P. Morgan Chase Bank, N.A. (NYSE: JPM), WSS leverages the firm's unparalleled scale, leading technology and deep industry expertise to service investments around the world. It has $15.3 trillion in assets under custody and $6.5 trillion in funds under administration. For more information, go to www.jpmorgan.com/visit/wss.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.1trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world's most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
About Charm Communications
Charm Communications Inc. (NASDAQ: CHRM) is a leading domestic television advertising agency in China. Charm offers integrated advertising agency services from planning and managing advertising campaigns to creating and placing advertisements. Charm has also established a portfolio of television advertising media resources through its exclusive arrangements with four programs on CCTV, and two satellite television channels, Shanghai Dragon TV and Tianjin Satellite TV, which includes not only advertising time but also opportunities for placing branded content. Charm's clients include well- recognized brand names in China across many industries, as well as emerging domestic leading brands. In January 2010, Charm formed a joint venture with international 4A advertising group Aegis Media, its strategic investor, to operate its brand "Vizeum" in China. For more information about Charm Communications, please visit www.charmgroup.cn