Citi Appointed Depositary Bank for Lufax Holding Ltd.’s Sponsored ADR Program

Rhea-AI Summary

Citi's Issuer Services has been appointed as the depositary bank for Lufax Holding Ltd's American Depositary Receipt (ADR) program, enabling investors access to the platform's ADRs. The program is linked to a $2.36 billion IPO, with each ADR priced at $13.50. One ADR represents one ordinary share of Lufax, which is traded on the NYSE under the symbol 'LU'. Citi aims to leverage its global capital markets expertise to provide high-quality ADR services to Lufax's investors.

Positive

• Lufax's ADR program supports a $2.36 billion IPO, enhancing market exposure.
• Citi's appointment reflects confidence in its global expertise in depositary services.

Negative

• None.

NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Lufax Holding Ltd (“Lufax”), a leading technology-empowered personal financial services platform headquartered in Shanghai, China, as the depositary bank for its American Depositary Receipt (ADR) program.

Lufax’s program was established in connection with an approximately $2.36 billion initial public offering of its ADRs, priced at $13.50 per ADR (assuming no exercise by the underwriters of the over-allotment option). The ADRs are listed on NYSE, under the symbol “LU”. Two ADRs represent one ordinary share of Lufax. As a single-listed ADR program, the underlying ordinary shares are not listed or publicly traded in the issuer’s home market.

“We are proud to be selected as the depositary bank for Lufax ADR’s program,” said Dirk Jones, Head of Global Issuer Services at Citi. “We look forward to leveraging our global expertise in the capital markets to provide Lufax’s investors with the highest quality ADR services.”

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