Citi Appointed as Successor Depositary Bank for Nordea Bank Abp’s ADR Programme

Rhea-AI Summary

Citi has been appointed by Nordea Bank as the new depositary bank for its Level 1 American Depositary Receipt (ADR) program, trading under the symbol 'NRDBY'. Each ADR corresponds to one ordinary share of Nordea, which is actively traded on multiple Nordic exchanges under the symbol 'NDA'. Dirk Jones, Citi’s Global Head of Issuer Services, expressed confidence in Citi's capabilities to enhance the ADR program’s success and investor relations, leveraging Citi’s global reach and expertise.

Positive

• Citi appointed as successor depositary bank for Nordea's ADR program, indicating trust and collaboration between the companies.
• Confidence expressed by Citi's leadership in enhancing the ADR program, which may attract more investment.
• Nordea's ADR program facilitates investor access to its shares, potentially increasing liquidity.

Negative

• None.

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

Nordea’s ADR programme trades in the US over-the-counter (OTC) market under the symbol “NRDBY”. Each ADR represents one ordinary share of the company. Nordea’s underlying ordinary shares are listed and trade on the Nasdaq Helsinki, Nasdaq Stockholm and Nasdaq Copenhagen stock exchanges under the symbol “NDA”.

Commenting on the appointment, Dirk Jones, Global Head of Issuer Services, at Citi said: “I am delighted on behalf of Citi that we have been selected by Nordea Bank as successor ADR depositary bank for its sponsored Level 1 ADR programme. With Citi’s global presence and investor relations expertise, we are confident our platform will help facilitate the continued success of the programme and provide investors with the highest quality ADR services.”

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

About Nordea

We are a universal bank with a 200-year history of supporting and growing the Nordic economies – enabling dreams and aspirations for a greater good. Every day, we work to support our customers’ financial development, delivering best-in-class omnichannel customer experiences and driving sustainable change. The Nordea share is listed on the Nasdaq Helsinki, Nasdaq Copenhagen and Nasdaq Stockholm exchanges. Read more about us at nordea.com.

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/20230112005079/en/

Citi Media Contacts:

Shani Halstead

+44 (0) 20 7508 2352

shani.halstead@citi.com



Richard Bicknell

+44 (0) 20 7500 5003

richard.bicknell@citi.com



Nordea Investor Contacts:

Matti Ahokas

Head of Investor Relations

+358 9 5300 8011

matti.ahokas@nordea.com

Source: Citi

FAQ

What is the significance of Citi being appointed by Nordea for the ADR program?

Citi's appointment as the successor depositary bank indicates a strong partnership and may enhance the success of Nordea's ADR program.

What does the ADR program for Nordea entail?

Nordea's ADR program allows U.S. investors to trade shares in Nordea Bank, with each ADR representing one ordinary share.

What symbol does Nordea's ADR trade under in the U.S.?

Nordea's ADR trades under the symbol 'NRDBY' on the over-the-counter market.

On which exchanges are Nordea's underlying shares listed?

Nordea's ordinary shares are listed on the Nasdaq Helsinki, Nasdaq Copenhagen, and Nasdaq Stockholm exchanges under the symbol 'NDA'.