Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Huatai Securities Co, Ltd. (“Huatai”), a leading technology-enabled securities group in China, as Depositary Bank for its Global Depositary Receipts (“GDR”) program.

Huatai’s GDR program was established in connection with a US$ 1.54 billion initial public offering of its GDRs (assuming no exercise by the underwriters of the over-allotment option), priced at US$20.50 per GDR. The GDRs are listed on the Shanghai-London Stock Connect segment of the London Stock Exchange under the symbol “HTSC.” Each GDR represents ten (10) A shares. Huatai’s A shares are listed and traded on the Shanghai Stock Exchange under the stock code 601688.

The Shanghai-London Stock Connect is a new effort in cooperation between UK and China in the sphere of financial markets. This deal marks the first successful listing of a GDR on The London Stock Exchange under the Shanghai-London Stock Connect initiative.

“Shanghai-London Stock Connect is the first of its kind to directly link the Chinese and European markets and a strategic component of China's capital markets reform. The program offers us access to one of the deepest and most influential capital markets in the world and provides fungibility between the GDRs and the A Shares. The offering will improve our core competitiveness by supporting the growth of our international business, further expanding our overseas footprint, and strengthening our capital position. We are pleased to be the first issuer to tap this new market of enormous potential and unprecedented opportunity."." said Mr. Zhou Yi, Chairman & Chief Executive Officer of Huatai Securities.

“We are truly grateful to be appointed as the Depositary Bank for Huatai’s LSE Listed GDR Program as it has been a milestone in the development of the Shanghai-London Stock Connect,” said Dirk Jones, Head of Global Issuer Services at Citi. “Citi’s cross-regional capabilities, global team, and ability to enhance investor access will serve Huatai well in this first step in a critical expansion of the Depositary Receipt product globally. We hope that it paves the way for new issuers to raise capital, and access cross-border demand in the future.”

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.

About 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

Media Contact: Sophia Anthony Citi Global Public Affairs Banking, Capital Markets & Advisory Communications +1 (212) 816-7140 sophia.anthony@citi.com

Citigroup (NYSE:C)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Citigroup Charts.
Citigroup (NYSE:C)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Citigroup Charts.