Deutsche Bank Appointed as Successor Depositary Bank for the American Depositary Receipt Program of ABB Ltd

Rhea-AI Summary

Deutsche Bank has been appointed as the successor depositary bank for ABB 's American Depositary Receipt (ADR) Program, effective July 1, 2024. ABB is a leading technology company in electrification and automation. The program will be managed under Level I ADR with the symbol ABBNY, traded on the OTC market. Each ADR represents one ordinary share of ABB The custodian bank for this program will be Credit Suisse (Switzerland), This change highlights Deutsche Bank's robust capability in managing cross-border equity structures, including ADRs, for global clients.

Positive

• Deutsche Bank's appointment as the successor depositary bank for ABB 's ADR program adds to its portfolio of managing cross-border equity structures.
• The new role enhances Deutsche Bank's position in the global financial market, showcasing its ability to cater to complex financial instruments.

Negative

• The transition of depositary bank services might introduce short-term operational risks and adjustment costs for ABB and its shareholders.

NEW YORK--(BUSINESS WIRE)-- Deutsche Bank announced today its appointment as successor depositary bank for the sponsored American Depositary Receipt Program of ABB Ltd (OTC: ABBNY).

ABB Ltd is a technology company in electrification and automation, enabling a more sustainable and resource-efficient future. The company’s solutions connect engineering know-how and software to optimize how things are manufactured, moved, powered and operated.*

In addition to specializing in administering cross-border equity structures such as New York Shares, American, and Global Depositary Receipts, Deutsche Bank provides corporates, financial institutions, hedge funds and supranational agencies around the world with trustee, agency, escrow, and related services. Deutsche Bank offers a very broad range of services for diverse products, from complex securitizations and project finance to syndicated loans, debt exchanges and restructurings.

* This information was provided by ABB Ltd (June 2024).

Depositary Receipt Information
Country		Switzerland
Custodian Bank		Credit Suisse (Switzerland), Ltd.
Effective Date		July 1, 2024
Level I ADR
CUSIP		000375204
ISIN		US0003752047
Symbol		ABBNY
Exchange		OTC
Current Ratio		1 ADS : 1 Ordinary Share
Eligibility		DTC

Depositary Receipt Contacts
New Business Development
Jonathan Montanaro
Tel: +44 20 754-78538
www.adr.db.com		Markets Distribution
adr@db.com		London
		Tel: +44 (0) 20 7547 6500
gtb.db.com		New York
		Tel: +1 212 250 9100

Deutsche Bank provides commercial and investment banking, retail banking, transaction banking and asset and wealth management products and services to corporations, governments, institutional investors, small and medium-sized businesses, and private individuals. Deutsche Bank is Germany’s leading bank, with a strong position in Europe and a significant presence in the Americas and Asia Pacific.

The Depositary Receipts have been registered pursuant to the US Securities Act of 1933 (the "Act"). The investment or investment service which is the subject of this notice is not available to retail clients as defined by the UK Financial Conduct Authority. This notice has been approved and/or communicated by Deutsche Bank AG New York. The services described in this notice are provided by Deutsche Bank Trust Company Americas (Deutsche Bank) or by its subsidiaries and/or affiliates in accordance with appropriate local registration and regulation. Deutsche Bank is providing the attached notice strictly for information purposes and makes no claims or statement, nor does it warrant or in any way represent, as to the accuracy or completeness of the details contained herein or therein. This announcement appears as a matter of record only. Neither this announcement nor the information contained herein constitutes an offer or solicitation by Deutsche Bank or any other issuer or entity for the purchase or sale of any securities nor does it constitute a solicitation to any person in any jurisdiction where solicitation would be unlawful. No part of this notice may be copied or reproduced in any way without the prior written consent of Deutsche Bank. Past results are not an indication of future performance. Copyright© July 2024 Deutsche Bank AG. All rights reserved.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240701816587/en/

For further information, please contact:

Deutsche Bank AG

Press & Media Relations

Dylan Riddle

Tel. +12122504982

Cell. +1(904)3866481

Email dylan.riddle@db.com

Source: Deutsche Bank

FAQ

What did Deutsche Bank announce on July 1, 2024, about ABB ?

Deutsche Bank announced that it has been appointed as the successor depositary bank for ABB 's American Depositary Receipt (ADR) Program.

What is the effective date of Deutsche Bank's appointment for ABB 's ADR program?

Deutsche Bank's appointment as the successor depositary bank for ABB 's ADR program is effective from July 1, 2024.

What stock symbol will ABB 's ADRs trade under following Deutsche Bank's appointment?

ABB 's ADRs will trade under the stock symbol ABBNY following Deutsche Bank's appointment.

What is the ratio of ADR to ordinary shares for ABB 's ADR program managed by Deutsche Bank?

Each American Depositary Receipt (ADR) represents one ordinary share of ABB

Who is the custodian bank for ABB 's ADR program under Deutsche Bank's administration?

The custodian bank for ABB 's ADR program is Credit Suisse (Switzerland),