NEW YORK--(BUSINESS WIRE)--Citi, acting through Citibank N.A., has been appointed by Grupo Bimbo S.A.B. de C.V. as the depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) program.
Grupo Bimbo’s ADRs trade in the U.S. over-the-counter (OTC) market under the symbol “BMBOY,” with each ADR representing four ordinary shares. Grupo Bimbo’s ordinary shares are listed on the Mexican Stock Exchange under the symbol “BIMBO.”
“We look forward to working with Citi to grow and develop our ADR program,” said Guillermo Quiroz, CFO of Grupo Bimbo. “This program will allow us to diversify the shareholder base in line with our global profile with the same firm commitment to creating sustainable value over the long term.”
“We are proud to be appointed depositary bank for Grupo Bimbo’s ADR program,” said Dirk Jones, Head of Global Issuer Services at Citi. “With Citi’s investor relations expertise and global presence, we are confident that our powerful platform will help enable the success of Grupo Bimbo’s ADR program.”
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 56 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.
Grupo Bimbo is the largest baking company in the world in terms of volume and sales. Grupo Bimbo has 162 plants and approximately 1,700 sales centers strategically located in 22 countries throughout the Americas, Europe and Asia. Its main product lines include fresh and frozen sliced bread, buns, cookies, snack cakes, english muffins, bagels, pre-packaged foods, tortillas, salted snacks and confectionery products, among others. Grupo Bimbo produces over 10,000 products and has one of the largest direct distribution networks in the world, with more than 2.5 million points of sale, more than 52,000 routes and more than 127,000 associates. Grupo Bimbo’s shares have traded on the Mexican Stock Exchange since 1980 under the ticker symbol BIMBO.
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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