Citibank Launches NYSE Listed ADR Program for Royal & SunAlliance Insurance Group plc.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 24, 2000 One of the World's Largest Insurers Upgrades ADR ADR - Astra Digital Radio Program From OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). to Exchange Listed Program to Expand U.S. Investor Base Citibank Depositary Receipt Services, a unit of Citigroup's Global Corporate and Investment Bank, announced today that the American Depositary Receipt American Depositary Receipt (ADR) Certificates issued by a US depository bank, representing foreign shares held by the bank, usually by a branch or correspondent in the country of issue. (ADR) program for Royal & SunAlliance Insurance Group plc has been upgraded from an Over the Counter (OTC) program to a New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange ) listed ADR program. The shares begin trading this morning on the NYSE. Royal & SunAlliance is one of the world's largest international insurance groups, with headquarters in the U.K. Citibank will continue to act as depositary. Each American Depositary Share American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. (ADS) represents five ordinary shares of Royal & SunAlliance. The ordinary shares trade on the London Stock Exchange London Stock Exchange London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . The ADSs trade on the NYSE under the symbol "RSA (1) (Rural Service Area) See MSA. (2) (Rivest-Shamir-Adleman) A highly secure cryptography method by RSA Security, Inc., Bedford, MA (www.rsa.com), a division of EMC Corporation since 2006. It uses a two-part key. " (CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. 78004V202). "We are pleased to support Royal & SunAlliance as the company expands its offering in the U.S. market," said Kurt Schneiber, Global Managing Director, Citibank Depositary Receipt Services. "The listing will enable the company to reach a broader base of U.S. investors and continue to develop its global presence." "Citibank's support has been excellent as we expand our ADR offering to U.S. investors through the NYSE listing," said Malcolm Gilbert, Director of Communications Director of Communications is a position in the private and public sectors. The Director of Communications is responsible for managing and directing an organization's internal and external communications. , Royal & SunAlliance. "We expect this listing will augment our position as a global player, supporting our initiatives to build strong, sustainable and growing profitability." Royal & SunAlliance is among the top 3 multinational property and casualty operations worldwide and has leading or significant market positions in the UK, USA, Canada, Scandinavia and Australia. The company writes most of the major classes of property and casualty, and life insurance. Royal & SunAlliance employs around 50,000 people in operations based in over 50 countries worldwide, transacts business in over 130 countries and has over 20 million customers around the globe. Royal & SunAlliance was created in 1996 with the merger of two of Britain's largest insurance companies. Looking forward, the company aims to develop presence in Japan, China and India. Its continuing mission is to build upon traditional strengths in underwriting, safety engineering, loss control and claims management to deliver superior returns to its shareholders and policyholders. For further information visit www.royalsunalliance.com. Citibank Depositary Receipt Services leads the market in bringing quality issuers to the U.S. market and promoting ADRs as an effective capital markets tool. Citibank began offering American Depositary Receipts in 1928 and today is the market leader, widely recognized for delivering high quality, highly liquid programs to its customers. Citibank Depositary Receipt Services is a part of Citibank Worldwide Securities Services (WWSS WWSS Worldwide Satellite Systems (US DoD contract vehicle) WWSS Warfare and Warfare Support System ), a business within Citigroup's Global Corporate and Investment Bank. WWSS serves global issuers, investors and intermediaries through the world's largest and most acclaimed proprietary custody and clearing network, spanning 51 countries and territories. It currently provides securities services to more than 2,500 customers worldwide and has $4 trillion in assets under custody. WWSS is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in depositary receipt services, and agency and trust services. Citigroup (NYSE:C), the premier financial services company, provides some 100 million consumers, corporations, governments and institutions in 102 countries with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage and asset management. The 1998 merger of Citigroup and Travelers Group brought together such brand names as Citibank, Travelers, Salomon Smith Barney, Citifinancial and Primerica under Citigroup's trademark red umbrella. Information contained herein is a matter of record only. It should not be construed as advice or a recommendation by Citibank. Visit our web site at www.citibank.com/adr. |
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