Citi Appointed as Depositary Bank for Joincare Pharmaceutical Group Industry Co., Ltd.’s GDR Program
September 27 2022 - 09:00AM
Business Wire
Continued Participation in China-Swiss Stock
Connect GDR Programs
Citi’s Issuer Services business, acting through Citibank, N.A.,
has been appointed by Joincare Pharmaceutical Group Industry Co.,
Ltd. (“Joincare”) – an innovative and scientific research-oriented
pharmaceutical group engaged in the research and development,
production and distribution of pharmaceuticals and healthcare
products – to act as Depositary Bank for its Global Depositary
Receipt (“GDR”) program.
Joincare’s GDR program was established in connection with a
US$92,035,650 initial public offering of its GDRs, priced at
US$14.42 per GDR. The GDRs are listed on the SIX Swiss Exchange
under the symbol “JCARE”. Each GDR represents ten (10) A shares.
Joincare’s A shares are listed and traded on the Shanghai Stock
Exchange (“SSE”) under the stock code 600380.
Mr. Zhu Baoguo, Chairman of the Company, commented:
“We are delighted with our successful GDR Offering, and we would
like to extend our gratitude to our investors for their full
confidence in and recognition of the company. This is an important
milestone of Joincare’s internationalization. We firmly believe
that our strong R&D capabilities, diversified product matrix
and leading commercialization capabilities will promote the
company’s continuous development in the future. We further expect
that the offering of GDRs will also further enhance our global
image, expand our financing channels and accelerate our
internationalization. We look forward to unveiling a new chapter of
Joincare with our investors.”
“We are pleased to be the Depositary Bank for Joincare’s GDR
Programs listed on the SIX Swiss Exchange -- the sixth issuer
listed as part of the China-Swiss Stock Connect GDR Program. This
continues our role as the depositary bank for all the Connect GDR
programs listed so far, including five listed on the London Stock
Exchange and four listed on the SIX Swiss Exchange,” said Dirk
Jones, Global Head of Citi’s Issuer Services.
“Citi’s cross-regional capabilities, global network, the ability
to enhance investor access, and our experience gained from the
previous Connect GDR programs will serve these issuers well. We
expect to see more issuers raise capital and participate through
the Connect Scheme in the future,” he added.
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 is a preeminent banking partner for institutions with
cross-border needs, a global leader in wealth management and a
valued personal bank in its home market of the United States. Citi
does business in more than 160 countries and jurisdictions,
providing corporations, governments, investors, institutions and
individuals with a broad range of financial products and
services.
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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version on businesswire.com: https://www.businesswire.com/news/home/20220927005726/en/
Nina Das Citi Institutional Clients Group +1 (212) 816-9267
Nina.Das@citi.com
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