NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by RYB Education, Inc. (“RYB”), a Cayman Islands exempted company with limited liability and operations in China, as the depositary bank for its American Depositary Shares (ADS) program.
RYB’s program was established through a $165.9 million initial public offering of its ADSs (inclusive of the fully exercised over-allotment option), priced at $18.50 per ADS. The ADSs are listed on the New York Stock Exchange under the symbol “RYB.” Each ADS represents one ordinary share of RYB. As a single-listed ADS program, the underlying ordinary shares are not listed or publicly traded in the issuer’s home market.
“We look forward to supporting RYB Education and its ADS program,” said Dirk Jones, Head of Global Issuer Services at Citi. “We are confident that our powerful platform will deliver superior ADS service to RYB Education and its shareholders.”
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
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