Citi Appointed as Depositary Bank for SDIC Power Holding’s GDR Program
October 22 2020 - 5:05PM
Business Wire
Citi’s Issuer Services business, acting through Citibank, N.A.,
has been appointed by SDIC Power Holding Co., Ltd. (“SDIC Power”) –
a leading power generation company in China, established under the
laws of the People’s Republic of China - to act as Depositary Bank
for its Global Depositary Receipt (“GDR”) program.
SDIC Power’s GDR program was established in connection with a
US$200.6 million initial public offering of its GDRs (or
approximately $220.7 million, if the underwriters exercise their
over-allotment option in full), priced at US$12.27 per GDR. The
GDRs are listed on the Shanghai-London Stock Connect (“SLSC”)
segment of the Main market of the London Stock Exchange (“LSE”)
under the symbol “SDIC”. Each GDR represents ten A shares. SDIC
Power’s A shares are listed and traded on the Shanghai Stock
Exchange (“SSE”) under the stock code 600886.
ZHU Jiwei, Chairman of the Company, stated: “We are proud to
announce the successful pricing of SDIC Power’s GDR Offering,
following the positive response to our company on our recent
virtual roadshow from international investors. Our London listing
reinforces the global presence of SDIC Power and reflects the
company’s expansion from its home market into other regions of Asia
and into Western Europe. Enhanced access to international capital
markets through the Shanghai-London Stock Connect channel will
support SDIC Power’s commitment to continue to invest in, develop
and operate clean energy projects, as we implement our global
growth strategy.”
“Citi is proud to be appointed as the Depositary Bank for SDIC
Power’s LSE Listed GDR Program,” said Dirk Jones, Head of Global
Issuer Services at Citi. “Citi has been appointed as the Depositary
Bank for all four LSE GDR programs listed thus far. We are
committed to providing SDIC Power and its investors with the
highest quality services by leveraging our cross-regional
capabilities, global network and our experience gained in other
SLSC programs.”
Citi is a leading provider of depositary receipt services. With
depositary receipt programs in 67 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:
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LinkedIn: www.linkedin.com/company/citi
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version on businesswire.com: https://www.businesswire.com/news/home/20201022006125/en/
Sophia Anthony Citi Global Public Affairs Banking, Capital
Markets & Advisory Communications +1 (212) 816-7140
sophia.anthony@citi.com
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