Citi Appointed Depositary Bank for PPDAI Group Inc.’s Sponsored ADR Program
November 21 2017 - 9:18AM
Business Wire
Citi’s Issuer Services business, acting through Citibank, N.A.,
has been appointed by PPDAI Group Inc. (“PPDAI”), a Cayman Islands
exempted company with limited liability and operations in China, as
the depositary bank for its American Depositary Receipt (ADR)
program.
PPDAI’s program was established through a $221 million initial
public offering of its American Depositary Shares (ADSs), priced at
$13 per ADS. The ADSs are listed on the New York Stock Exchange
under the symbol “PPDF.” Each ADS represents five ordinary shares
of PPDAI. As a single-listed ADR program, the underlying ordinary
shares are not listed or publicly traded in the issuer’s home
market.
“Citi is proud to be selected as depositary bank for PPDAI’s ADR
program,” said Dirk Jones, Head of Global Issuer Services at Citi.
“With Citi’s global presence and investor relations expertise, we
are confident our powerful platform will help to facilitate the
success of PPDAI’s program.”
Citi is a leading provider of depositary receipt services. With
depositary receipt programs in 61 markets, spanning equity and
fixed-income products, Citi leverages its global network to provide
cross-border capital market access to issuers, intermediaries and
investors.
For more information about Citi’s Depositary Receipt Services,
please visit www.citi.com/dr.
Citi
Citi, the leading global bank, has approximately 200 million
customer accounts and does business in more than 160 countries and
jurisdictions. Citi provides consumers, corporations, governments
and institutions with a broad range of financial products and
services, including consumer banking and credit, corporate and
investment banking, securities brokerage, transaction services, and
wealth management.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
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CitiRobert Julavits, 212-816-8020robert.w.julavits@citi.com
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