NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by BEST Inc. (“BEST”), a Cayman Islands exempted company with operations in China, as the depositary bank for its American Depositary Receipt (ADR) program.
BEST’s program was established in connection with a $450 million initial public offering of its American Depositary Shares (ADSs), originally priced at $10.00 per ADS. The ADSs are listed on the New York Stock Exchange under the symbol “BSTI.” Each ADS represents one Class A ordinary share of BEST. As a single-listed ADR program, the underlying Class A ordinary shares are not listed or publicly traded in the issuer’s home market.
“Citi is proud to be selected as depositary bank for BEST’s ADR program,” said Dirk Jones, Head of Global Issuer Services at Citi. “With Citi’s global presence and investor relations expertise, we are confident our powerful platform will help to facilitate the success of BEST’s program.”
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.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi