Citi Appointed Depositary Bank for AiHuiShou International Co. Ltd.’s Sponsored ADS Program

Rhea-AI Summary

Citi has been appointed as the depositary bank for AiHuiShou International Co. Ltd.'s American Depositary Shares (ADS) program. The program accompanies an initial public offering of roughly 16 million ADSs, priced at $14.00 each, listed on the New York Stock Exchange under symbol 'RERE'. Each ADS will represent two Class A ordinary shares. Dirk Jones of Citi expressed commitment to delivering premium ADS services to AiHuiShou and its investors, reinforcing Citi's position in the depositary receipt services market.

Positive

• Citi appointed as depositary bank for AiHuiShou's ADS program.
• Successful initial public offering of approximately 16 million ADSs at $14.00 each.
• Citi's global network strengthens AiHuiShou's market access.

Negative

• None.

Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by AiHuiShou International Co. Ltd. (“AiHuiShou”), a leading technology-driven pre-owned consumer electronics transactions and services platform in China, as the depositary bank for its American Depositary Shares (ADS) program.

AiHuiShou’s program was established in connection with an approximately 16 million initial public offering of its ADSs (exclusive of the over-allotment option), priced at $14.00 per ADS. The ADSs are listed on the New York Stock Exchange under the symbol “RERE”. Every three American depositary shares represent two Class A ordinary shares. As a single-listed ADS program, the underlying ordinary shares are not listed or publicly traded in the issuer’s home market.

“We are pleased to be selected as the depositary bank for AiHuiShou,” said Dirk Jones, Head of Global Issuer Services at Citi. “We are committed to providing AiHuiShou and its investors with the highest quality ADS services, leveraging our global capabilities and further cementing our industry leading position in this space.”

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.

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/20210622005938/en/

FAQ

What is the significance of Citi being appointed as the depositary bank for AiHuiShou?

Citi's appointment enhances AiHuiShou's access to international investors and markets, providing high-quality ADS services.

What is the price and volume of AiHuiShou's initial public offering?

The initial public offering consists of approximately 16 million ADSs priced at $14.00 each.

Under what symbol are AiHuiShou's ADSs listed on the NYSE?

AiHuiShou's ADSs are listed on the New York Stock Exchange under the symbol 'RERE'.

How many ordinary shares does one ADS represent for AiHuiShou?

Each ADS represents two Class A ordinary shares of AiHuiShou.