Citi Appointed Depositary Bank for Weidai Ltd.’s Sponsored ADR Program
NEW YORK--(BUSINESS WIRE)--Nov 19, 2018--Citi’s Issuer Services business, acting through Citibank, N.A. has been appointed by Weidai Ltd. (“Weidai”), a Cayman Islands exempted company with operations in China, as the depositary bank for its American Depositary Receipts (ADR) program.
Weidai’s ADR program was established in connection with a $45.00 million initial public offering of its ADRs (assuming no exercise by the underwriters of their over-allotment option), priced at $10.00 per ADR. The ADRs are listed on the New York Stock Exchange under the symbol “WEI.” Each ADR represents one Class A ordinary share of Weidai. As a single-listed ADR program, the underlying Class A ordinary shares are not listed or publicly traded in Weidai’s home market.
“Citi is committed to being the best for our clients. We look forward to providing Weidai and its investors with the highest quality ADR services,” said Dirk Jones, Head of Global Issuer Services at Citi. “We are proud to be selected as the Depositary Bank for Weidai’s ADR 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, 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
View source version on businesswire.com:https://www.businesswire.com/news/home/20181119005611/en/
KEYWORD: UNITED STATES NORTH AMERICA NEW YORK
INDUSTRY KEYWORD: PROFESSIONAL SERVICES BANKING FINANCE
Copyright Business Wire 2018.
PUB: 11/19/2018 11:58 AM/DISC: 11/19/2018 11:58 AM