An email has been sent to your address with instructions for changing your password.
There is no user registered with this email.
Sign Up
To create a free account, please fill out the form below.
Thank you for signing up!
A confirmation email has been sent to your email address. Please check your email and follow the instructions in the message to complete the registration process. If you do not receive the email, please check your spam folder or contact us for assistance.
Welcome to our platform!
Oops!
Something went wrong while trying to create your new account. Please try again and if the problem persist, Email Us to receive support.
Citi Appointed as Depositary Bank for the GDR Programs of Zhejiang Supcon Technology Co., Ltd. and Yangzhou Yangjie Electronic Technology Co., Ltd.
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary
Citi’s Issuer Services has been appointed as the Depositary Bank for the Global Depositary Receipt (GDR) Programs of Zhejiang Supcon Technology Co., Ltd. and Yangzhou Yangjie Electronic Technology Co., Ltd. Supcon’s GDR Program, linked to a US$564.61 million IPO, is priced at US$26.94 per GDR, listed on the SIX Swiss Exchange under the symbol SUPCON. Yangjie’s GDR Program, associated with a US$215.09 million IPO, is priced at US$15.00 per GDR and listed under the symbol YJET. This appointment strengthens Citi's position in the China Connect GDR market.
Positive
Citi appointed as Depositary Bank for GDR Programs of Supcon and Yangjie.
Supcon's GDR priced at US$26.94 with a total IPO of US$564.61 million.
Yangjie's GDR priced at US$15.00 with a total IPO of US$215.09 million.
Citi remains a leader in the China Connect GDR market.
Negative
None.
NEW YORK--(BUSINESS WIRE)--
Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Zhejiang Supcon Technology Co., Ltd. (“Supcon”) and Yangzhou Yangjie Electronic Technology Co., Ltd. (“Yangjie”) to act as the Depositary Bank for their Global Depositary Receipt (“GDR”) Programs. Citi’s Issuer Services acts as the Depositary Bank for 17 out of 18 China Connect GDR Programs (including 5 Shanghai-London Stock Connect Programs and 12 China-Swiss Stock Connect Programs).
Zhejiang Supcon Technology Co., Ltd.
Supcon is a leading industrial automation and smart manufacturing solutions provider in the process automation industry in China.
Supcon’s GDR Program was established in connection with a US$564.61 million initial public offering of its GDRs, priced at US$26.94 per GDR. The GDRs are listed on the SIX Swiss Exchange under the symbol “SUPCON”. Each GDR represents two (2) A shares. Supcon’s A shares are listed and traded on the Shanghai Stock Exchange under the stock code 688777.
Yangzhou Yangjie Electronic Technology Co., Ltd.
Yangjie is a leading semiconductor player which integrates the R&D, manufacturing and sales of semiconductor devices, semiconductor chips and semiconductor silicon wafers in China.
Yangjie’s GDR Program was established in connection with a US$215.09 million initial public offering of its GDRs, priced at US$15.00 per GDR. The GDRs are listed on the SIX Swiss Exchange under the symbol “YJET”. Each GDR represents two (2) A shares. Yangjie’s A shares are listed and traded on the Shenzhen Stock Exchange under the stock code 300373.
“We are pleased to be the Depositary Bank for Supcon and Yangjie, supporting their GDR programs. Citi retains its leading position as the depositary bank for companies listed on the China Connect GDR Programs, including the London Stock Exchange and the SIX Swiss Exchange,” said Dirk Jones, Global Head of Citi’s Issuer Services. “Our cross-regional capabilities, global network, the ability to enhance investor access, and experience facilitating the previous Connect GDR Programs serves the issuers well. We expect to see more participation via the Connect Scheme.”
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 nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.
