NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Zai Lab Limited (“Zai Lab”), a Cayman Islands exempted company with limited liability and operations in China, as the depositary bank for its American Depositary Shares (ADS) program.
Zai Lab’s program was established in connection with a $172.5 million initial public offering of its ADSs (inclusive of the fully exercised over-allotment option), priced at $18.00 per ADS. The ADSs are listed on the Nasdaq Stock Market under the symbol “ZLAB.” Each ADS represents one ordinary share of Zai Lab. As a single-listed ADS 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 Zai Lab’s ADS program,” said Dirk Jones, Head of Global Issuer Services at Citi. “Citi is committed to providing Zai Lab and its investors with the highest quality ADR services.”
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 61 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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