NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Gridsum Holding Inc., a Cayman Islands-incorporated, China-based company, as the depositary bank for its Level 3 American Depositary Receipt (ADR) program.
Gridsum’s ADR program was established through a just over US$100 million initial public offering, originally priced at US$13.00 per ADR. The ADRs are listed on the NASDAQ under the symbol “GSUM.” Each ADR represents one Class B ordinary share. As a single-listed ADR program, the underlying ordinary shares are not listed or publicly traded in the issuer’s home market.
“Citi is proud to be selected as depositary bank for Gridsum’s ADR program,” said Dirk Jones, Head of Global Issuer Services at Citi. “Citi is committed to providing Gridsum and its investors with the highest quality ADR services.”
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.
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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