Citi Appointed as Successor Depositary Bank for Accor SA’s ADR Programme

Rhea-AI Summary

Citi has been appointed by Accor to serve as the successor depositary bank for its Sponsored Level 1 American Depositary Receipt (ADR) programme. Accor's American Depositary Shares (ADS) trade on the OTC Market under ticker 'ACCYY', with each ordinary share represented by five ADSs. Dirk Jones from Citi expressed enthusiasm for enhancing Accor's investor outreach through their expertise in investor relations and global equity distribution.

Positive

• Citi's appointment as the successor depositary bank for Accor's ADR programme indicates a strengthening of investor relations.
• Enhanced investor outreach may lead to increased interest in Accor's stock.

Negative

• None.

LONDON--(BUSINESS WIRE)-- Citi, acting through Citibank N.A., has been appointed by Accor SA (“Accor”) to act as successor depositary bank for its Sponsored Level 1 American Depositary Receipt (“ADR”) programme.

Accor’s American Depositary Shares (“ADS”) trade on the OTC Market under the ticker “ACCYY”. Each ordinary share is represented by five ADSs. Accor’s underlying ordinary shares are listed and trade on the Euronext Paris Stock Exchange under the ticker “AC”.

Commenting on the appointment, Dirk Jones, Global Head of Issuer Services, at Citi said: “We look forward to supporting Accor’s ADR programme and further develop the company’s investor outreach through the expertise of our leading Investor Relations Advisory team and the breadth of our global equity distribution network.”

For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.

About Accor

Accor is a world leading hospitality group consisting of more than 5,200 properties and 10,000 food and beverage venues throughout 110 countries. The group has one of the industry’s most diverse and fully-integrated hospitality ecosystems encompassing more than 40 luxury, premium, midscale and economy hotel brands, unique lifestyle concepts, entertainment and nightlife venues, restaurants and bars, branded private residences, shared accommodation properties, concierge services, co-working spaces and more. Accor’s unmatched position in lifestyle hospitality – one of the fastest growing categories in the industry – is led by Ennismore, a creative hospitality company with a global portfolio of entrepreneurial and founder-built brands with purpose at their heart. Accor boasts an unrivaled portfolio of distinctive brands and approximately 260,000 team members worldwide. 68 million members benefit from the company’s comprehensive loyalty program – ALL - Accor Live Limitless – a daily lifestyle companion that provides access to a wide variety of rewards, services and experiences. Through its Planet 21 – Acting Here, Accor Solidarity, RiiSE and ALL Heartist Fund initiatives, the Group is focused on driving positive action through business ethics, responsible tourism, environmental sustainability, community engagement, diversity and inclusivity. Founded in 1967, Accor SA is headquartered in France and publicly listed on the Euronext Paris Stock Exchange (ISIN code: FR0000120404) and on the OTC Market (Ticker: ACCYY) in the United States. For more information visit group.accor.com or follow Accor on Twitter, Facebook, LinkedIn and Instagram.

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: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi

View source version on businesswire.com: https://www.businesswire.com/news/home/20211217005027/en/

Citi Media Contacts:

Rekha Jogia-Soni

+44 (0) 20 7500 2843

rekha.jogia-soni@citi.com

Accor Investor Contacts:

Pierre-Loup Etienne

Head of Investor Relations

pierre-loup.etienne@accor.com

Source: Citi

FAQ

What is the recent appointment related to Accor and Citi?

Citi has been appointed as the successor depositary bank for Accor's Sponsored Level 1 ADR programme.

Under what ticker do Accor's American Depositary Shares trade?

Accor's American Depositary Shares trade on the OTC Market under the ticker 'ACCYY'.

How are Accor's ordinary shares represented in the ADR programme?

Each ordinary share of Accor is represented by five American Depositary Shares (ADSs).

What impact does the new depositary appointment have on Accor's stock?

The appointment may enhance Accor's investor outreach, potentially increasing interest in its stock.