Citi Appointed Depositary Bank for LianBio’s Sponsored ADR Program

Rhea-AI Summary

Citibank has been appointed as the depositary bank for LianBio's American Depositary Receipt (ADR) program, coinciding with an IPO of approximately $325 million. Each ADS is priced at $16.00 and represents one ordinary share, listed on Nasdaq under the ticker symbol LIAN. Dirk Jones, Global Head of Issuer Services at Citi, emphasized Citi's commitment to providing high-quality ADR services for LianBio, showcasing Citi's extensive cross-border capabilities. This collaboration aims to enhance capital market access for global investors.

Positive

• Appointment of Citibank as depositary bank signifies LianBio's growth potential.
• Successful IPO of approximately $325 million indicates strong market interest.

Negative

• None.

NEW YORK--(BUSINESS WIRE)-- Citi’s Issuer Services, acting through Citibank, N.A., has been appointed as the depositary bank by LianBio for its American Depositary Receipt (ADR) program.

The LianBio program was established in connection with an approximately $325 million initial public offering of its American Depositary Shares (ADSs), priced at $16.00 per ADS. The ADSs are listed on the Nasdaq Global Market, under the ticker symbol “LIAN”. Each ADS represents one ordinary share of LianBio.

“Citi is committed to providing LianBio and its investors with the highest quality ADR services, and our selection as depositary bank for the company’s ADR program underscores the depth and breadth of Citi’s cross-border capabilities,” said Dirk Jones, Global Head of Issuer Services at Citi.

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/20211115005280/en/

Media :

Nina Das

Citi Business & Corporate Communications

+1 (212) 816-9267

nina.das@citi.com

Source: Citi

FAQ

What recent announcement did LianBio make regarding its ADR program?

LianBio announced the appointment of Citibank as the depositary bank for its ADR program.

How much was LianBio's initial public offering?

LianBio's initial public offering was approximately $325 million.

What is the price of LianBio's American Depositary Shares (ADSs)?

The price for each of LianBio's ADSs is $16.00.

Under which ticker symbol is LianBio listed on Nasdaq?

LianBio is listed on Nasdaq under the ticker symbol LIAN.