Citi Appointed as Depositary Bank for SDIC Power Holding’s GDR Program
Citi’s Issuer Services has been appointed by SDIC Power Holding Co., Ltd. as the Depositary Bank for its Global Depositary Receipt (GDR) program. This follows SDIC Power's successful pricing of a US$200.6 million IPO, with GDRs priced at US$12.27 each, potentially reaching US$220.7 million with over-allotment. The GDRs will be listed on the Shanghai-London Stock Connect segment of the London Stock Exchange under the symbol 'SDIC'. This move aims to enhance SDIC Power’s access to international capital markets and support its clean energy investments.
- Successful pricing of GDRs at US$12.27, with a total offering size of US$200.6 million (potentially US$220.7 million).
- SDIC Power’s GDRs enhance access to international capital markets, supporting growth in clean energy projects.
- None.
NEW YORK--(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
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.
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