-

Citi Appointed as Depositary Bank for Joincare Pharmaceutical Group Industry Co., Ltd.’s GDR Program

Continued Participation in China-Swiss Stock Connect GDR Programs

NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Joincare Pharmaceutical Group Industry Co., Ltd. (“Joincare”) – an innovative and scientific research-oriented pharmaceutical group engaged in the research and development, production and distribution of pharmaceuticals and healthcare products – to act as Depositary Bank for its Global Depositary Receipt (“GDR”) program.

Joincare’s GDR program was established in connection with a US$92,035,650 initial public offering of its GDRs, priced at US$14.42 per GDR. The GDRs are listed on the SIX Swiss Exchange under the symbol “JCARE”. Each GDR represents ten (10) A shares. Joincare’s A shares are listed and traded on the Shanghai Stock Exchange (“SSE”) under the stock code 600380.

Mr. Zhu Baoguo, Chairman of the Company, commented:

“We are delighted with our successful GDR Offering, and we would like to extend our gratitude to our investors for their full confidence in and recognition of the company. This is an important milestone of Joincare’s internationalization. We firmly believe that our strong R&D capabilities, diversified product matrix and leading commercialization capabilities will promote the company’s continuous development in the future. We further expect that the offering of GDRs will also further enhance our global image, expand our financing channels and accelerate our internationalization. We look forward to unveiling a new chapter of Joincare with our investors.”

“We are pleased to be the Depositary Bank for Joincare’s GDR Programs listed on the SIX Swiss Exchange -- the sixth issuer listed as part of the China-Swiss Stock Connect GDR Program. This continues our role as the depositary bank for all the Connect GDR programs listed so far, including five listed on the London Stock Exchange and four listed on the SIX Swiss Exchange,” said Dirk Jones, Global Head of Citi’s Issuer Services.

“Citi’s cross-regional capabilities, global network, the ability to enhance investor access, and our experience gained from the previous Connect GDR programs will serve these issuers well. We expect to see more issuers raise capital and participate through the Connect Scheme in the future,” he added.

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.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

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

Contacts

Nina Das
Citi Institutional Clients Group
+1 (212) 816-9267
Nina.Das@citi.com

Citi

NYSE:C

Release Versions

Contacts

Nina Das
Citi Institutional Clients Group
+1 (212) 816-9267
Nina.Das@citi.com

More News From Citi

Citi Becomes First Bank to Launch Multi-Market Instant Payments on the Swift Payments Scheme

NEW YORK--(BUSINESS WIRE)--Today, Citi announced that it is the first bank to go live with multiple markets on the Swift payments scheme. This solution, enabled through Citi’s Global Clearing network and WorldLink® Payment Services, allows bank clients to access multiple cross-border instant payment markets through a single account structure and eliminates the need for separate local banking relationships, bilateral agreements, or local technical infrastructure. Citi plans to expand this capabi...

Citi Investor Services Reimagines Market Guide Platform, Harnessing AI to Deliver Timely Intelligence for Decision Makers

MIAMI--(BUSINESS WIRE)--Today, at Sibos, Citi Investor Services announced the launch of its enhanced Market Guide platform, using AI to deliver faster and smarter post-trade market intelligence from Citi’s over 100 custody markets globally, including 62 proprietary custody branches. Citi’s institutional investor clients make consequential decisions daily, for their own portfolios and on behalf of their own clients. In faster-moving markets, clients want more than accessing information; they nee...

Citi® Token Services Expands Global Footprint Into Japan and UAE

NEW YORK--(BUSINESS WIRE)--Citi today announced the expansion of Citi Token Services into Japan and the United Arab Emirates (UAE), advancing our strategy to build a more connected, always-on financial ecosystem for corporate and financial institutional clients. The expansion is the latest milestone in Citi Services’ broader digital assets strategy, which is focused on solving real-world client needs by building bank-grade capabilities that connect traditional financial infrastructure with emer...
Back to Newsroom