J.P. Morgan has announced that it has been appointed depositary bank by IFM Investments Ltd in connection with its recent initial public offering of 12.5 million American Depositary Shares.

IFM Investments is the exclusive franchisor for CENTURY 21® in China. The company runs the largest network of real estate brokerage offices in China and its network covers 34 cities, with more than 4.7 million property listings.

Kevin Yung, executive vice president at IFM Investments Ltd was impressed with the level of service and experience provided by J.P. Morgan: “The J.P. Morgan team clearly demonstrated an in-depth knowledge of the ADR market and their investor relations experience was invaluable during the IPO process. We look forward to further developing our ADR programme to support our business expansion plans.”

Kenneth Tse, Asia-Pacific head of J.P. Morgan’s depositary receipts group said about the deal: “We are very pleased to be appointed depositary bank by IFM Investments. Being selected to manage this ADR program again demonstrates J.P. Morgan’s leadership position and ability to help China-based companies’ access overseas investors.”

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 American Depositary Receipt and Global Depositary Receipt services to issuers seeking to have their equity traded on exchanges beyond their home markets.