Citi Appointed as Depositary Bank for Scage Future’s ADR Program

NEW YORK--(BUSINESS WIRE)--Citi Issuer Services, acting through Citibank, N.A., has been appointed as depositary bank by Scage Future (Scage) for its American Depositary Receipt (ADR) program.

The appointment follows after Scage International Limited, a zero-emission solution provider of new energy heavy-duty commercial vehicles and e-fuel solutions, and Finnovate Acquisition Corp., a special purpose acquisition company, completed their business combination on June 27, 2025.

The American Depositary Shares (ADS) of the combined entity, Scage, commenced trading on the Nasdaq Stock Exchange under the ticker “SCAG” on June 30, 2025. Each ADS represents one (1) ordinary share of Scage.

Dirk Jones, Global Head of Citi Issuer Services, said: “The Issuer Services business is well-positioned to support the success of Scage’s ADR program. With Citi’s extensive global network and deep capital markets expertise, we are committed to delivering long-term value to issuers by facilitating access to global markets and growth opportunities.”

Citi is a leading provider of depositary receipt services. With depositary receipt programs in over 65 markets, spanning equity and fixed-income products, Issuer Services leverages Citi’s global network to provide cross-border capital market access to issuers, intermediaries and investors.

For more information on Citi’s Depositary Receipt Services, 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 nearly 180 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 | X: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi