Transpacific Industries Group has appointed Deutsche Bank as depositary bank for its non-capital raising sponsored Level I American Depositary Receipt programme.

An American Depositary Receipt or ADR is a negotiable certificate issued by a US bank representing a specified number of shares (or one share) in a foreign stock that is traded on a US exchange. ADRs are denominated in US dollars, with the underlying security held by a US financial institution overseas.

Transpacific is a leading company in Australia’s total waste management services industry with operations in both the solid and industrial services sectors. It is an ASX top 100 listed company and employs more than 4,500 people across Australia.

“Our broad range of customised services will be used to assist Transpacific in enhancing the visibility of its ADR programme within the investor community,” says Naomi Flutter, head of global transaction banking, Australia & New Zealand at Deutsche Bank.

Deutsche Bank’s depositary receipts team is part of the issuer services business within the bank’s institutional cash & securities services unit. In addition to administering cross-border equity structures such as American and global depositary receipts and global registered shares, the issuer services business provides corporates, financial institutions, hedge funds and supranational agencies with trustee, agency, escrow and related services.