Citi Appointed Depositary Bank for Hexindai Inc.’s Sponsored ADR Program
November 15 2017 - 11:35AM
Business Wire
Citi’s Issuer Services business, acting through Citibank, N.A.,
has been appointed by Hexindai Inc. (“Hexindai”), a consumer
lending marketplace based in Beijing that facilitates loans to meet
the increasing demand of the emerging middle class in China, as the
depositary bank for its American Depositary Receipt (ADR)
program.
Hexindai’s program was established through an initial public
offering of its American Depositary Shares (ADSs), priced at $10
per ADS, which raised approximately $50 million. The ADSs are
listed on the Nasdaq Global Market under the symbol “HX.” Each ADS
represents one ordinary share of Hexindai. As a single-listed ADR
program, the underlying ordinary shares are not listed or publicly
traded in the issuer’s home market.
“We look forward to supporting Hexindai and its 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 Hexindai’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 |
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CitiRobert Julavits, 212-816-8020robert.w.julavits@citi.com
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