Citigroup Inc. - C STOCK NEWS

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.

Citi’s Issuer Services has been appointed by Kanzhun Limited as the depositary bank for its American Depositary Shares (ADS) program. This program is linked to an initial public offering valued at approximately $1,048.8 million, with ADS priced at $19, representing 2 Class A ordinary shares. The ADSs are traded on NASDAQ under the symbol 'BZ'. Citi emphasizes its commitment to quality services through this partnership, showcasing its extensive experience in depositary receipt services across 67 markets.

The report Citi GPS Technology at Work: The Coming of the Post-Production Society by Citi and the Oxford Martin School highlights a shift in work dynamics post-pandemic.

It predicts increased in-person work, emphasizing jobs that demand creativity and collaboration. While remote work peaked at 66% during April 2020, it is expected that 20% will remain post-pandemic, potentially boosting productivity by 5% in the short term.

However, the study warns of declining innovation due to isolation, urging policymakers to invest in new middle-income jobs and fostering environments conducive to creativity.

Citi has facilitated a historic conversion of four US tax-managed mutual funds to active ETFs for Dimensional Fund Advisors, totaling $29 billion in assets. The ETFs include Dimensional U.S. Equity ETF, Dimensional U.S. Small Cap ETF, Dimensional U.S. Targeted Value ETF, and Dimensional U.S. Core Equity 2 ETF, listed on June 14, 2021. Citi has expanded its long-standing partnership with Dimensional, enhancing its global custody and fund services. This conversion is expected to set a precedent for future mutual fund to ETF transitions in the industry.

Citigroup will release its second quarter results on July 14, 2021, at 8:00 AM ET, followed by a review via live webcast at 10:00 AM ET. The press release and related materials will be accessible on Citigroup's investor relations website. Investors can join the teleconference by dialing in with specific numbers for U.S. and international callers, and a replay will be available until July 21, 2021. Citigroup serves 200 million customer accounts and operates in over 160 countries, providing diverse financial products and services.

Citi’s Issuer Services has been appointed by Zhangmen Education Inc., a top online education firm in China, as the depositary bank for its American Depositary Shares (ADS) program. This program is linked to an approximately $48 million IPO of ADSs, priced at $11.50 each. The ADSs, listed under the symbol “ZME,” represent 9 Class A ordinary shares. Citi aims to provide exceptional services to Zhangmen and its investors, highlighting its strong position in the global ADS market.

Citi has launched the Citi Custom Cash Card, a no annual fee cash back card that automatically adjusts to spending habits, rewarding cardholders with 5% cash back on their top eligible category each billing cycle, up to $500, and 1% cash back on other purchases. New cardmembers can earn a $200 cash back bonus after spending $750 in the first 3 months. The card aims to meet the needs of Millennials, who often have varying spending habits, with categories including restaurants, groceries, and travel.

Citibank, N.A. has announced the redemption of $1,750,000,000 in 3.400% Notes and $750,000,000 in Floating Rate Notes, both due July 2021, effective June 23, 2021. The redemption aligns with Citibank's liability management strategy, enhancing its funding efficiency and capital structure. Post-redemption, these notes will no longer accrue interest. Citibank will continue to evaluate opportunities for future redemptions or repurchases based on economic value and market conditions.

Citi has been appointed by Centessa Pharmaceuticals to serve as the depositary bank for its American Depositary Receipt (ADR) program. Centessa's American Depositary Shares (ADSs) are listed on the Nasdaq under the symbol 'CNTA'. Dirk Jones from Citi expressed enthusiasm for supporting Centessa's ADR program and enhancing investor outreach through their global equity distribution network. Centessa aims to innovate the drug development process by applying an asset-centric R&D model across its ten subsidiaries, backed by centralized infrastructure.