iSoftStone provides a range of consulting, IT infrastructure and business process outsourcing solutions across the technology, communications, financial services, energy, transportation and public sectors.
In order to raise capital and access one of the world’s most liquid markets, iSoftStone elected to list an American Depositary Receipt (ADR) program on the New York Stock Exchange, placing 12.45 million ADRs at an offer price of $13 per ADR.
The capital raised included the exercise of the underwriters’ over allotment option.
iSoftStone CFO Jonathan Zhang said JP Morgan’s depositary receipts team played a key role in assisting with iSoftStone’s ADR listing on the NYSE.
"We chose JP Morgan based on their unrivalled global reputation in the DR business and their extensive experience in helping Chinese companies tap new markets," Zhang said.
