NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank N.A., has been appointed by Tarena International, Inc. (“Tarena”), a Cayman Islands-registered China-based company, as the depositary bank for its Level 3 American Depositary Receipt (ADR) program.
Tarena’s ADR program was established through a $137.7 million offering, originally priced at $9.00 per ADR. The ADRs are listed on the NASDAQ under the symbol “TEDU.” Each ADR represents one Class A ordinary share; however, as a single-listed ADR program, the underlying ordinary shares represented by the ADRs are not listed or publicly traded in the issuer’s home market.
“It’s a privilege to be appointed the Depositary Bank by Tarena,” said Dirk Jones, Head of Global Issuer Services at Citi. “With Citi’s investor relations expertise and unparalleled global presence, we’re confident that Citi’s powerful platform will facilitate the success of Tarena’s ADR program.”
Citi is a leading provider of Depositary Receipt Services. With Depositary Receipt programs in 55 markets, Citi leverages its global network to help companies connect to new markets and raise capital worldwide.
For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr
For more information about Tarena, please visit www.tarena.com.cn/
Tarena International, Inc. is a holding company which engages in the provision of education services. It operates through the Training segment which offers live distance instruction, classroom-based tutoring, and online learning module focused on information technology. The company was founded in October 8, 2003, and is headquartered in Beijing, China.
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.
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