NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Burning Rock Biotech Limited (“Burning Rock Biotech”), a company focused on the application of next generation sequencing (NGS) technology in the field of precision oncology, as the depositary bank for its American Depositary Receipt (ADR) program.
Burning Rock Biotech’s program was established in connection with an approximately $222.750 million initial public offering of its ADRs, priced at $16.50 per ADR (or approximately $256.163 million, if the underwriters exercise their over-allotment option in full). The ADRs are listed on the NASDAQ Global Market under the symbol “BNR”. Each ADR represents one Class A ordinary share of Burning Rock Biotech. 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 committed to providing Burning Rock Biotech and its investors with the highest quality ADR services, and our selection as depositary bank for the company’s ADR program underscores the depth and breadth of Citi’s cross-border capabilities,” said Dirk Jones, Head of Global Issuer Services at Citi.
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 67 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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