Citibank Launches NYSE-Listed ADR Program for Shinhan Financial Group Co., Ltd.Business Editors NEW YORK--(BUSINESS WIRE)--Sept. 16, 2003 Citibank Depositary Receipt depositary receipt A negotiable certificate that represents a company's publicly traded debt or equity. Depositary receipts are created when a company's shares or bonds are delivered to a depositary's custodian bank, which instructs the depositary to issue Services announced today that Shinhan Financial Group Shinhan Financial Group is a South Korean financial services group. Shinhan Bank and CHB Bank, two of its largest holdings, are set to merge operations in 2006. The group's other notable holding is 62.42% stake in Jeju Bank. It is 8. Co., Ltd., Korea's largest financial services company, has upgraded its Citibank-sponsored Global Depositary Receipt (GDR GDR See Global Depositary Receipt (GDR). ) 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 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 ADR - Astra Digital Radio ) program. The shares have begun trading on the NYSE. Each American Depositary Share American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. (ADS) of the new listed program represents two common shares of Shinhan, which trade on the Korea Stock Exchange Korea Stock Exchange The major securities market of Korea. . The NYSE-listed shares trade under the symbol SHG SHG Second Harmonic Generation SHG Short-Handed Goals (hockey) SHG Self Help Group SHG State History Guide (formerly State House Girls) SHG Sacred Heart Griffin with CUSIP CUSIP See: Committee on Uniform Securities Identification Procedures CUSIP See Committee on Uniform Securities Identification Procedures. 824596 10 0. "We are pleased to support Shinhan Financial Group's goal of achieving superior visibility in the world's largest capital market. The company's global perspective positions it for long-term success," said Sanjeev Nanavati, Managing Director of Citibank Depositary Receipt Services. "Citibank has been highly professional as we continue to embrace international standards through this listing on the New York Stock Exchange," said Young-Hwi Choi, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Shinhan Financial Group. "Our enhanced commitment to the U.S. market furthers our goal to create compelling value for our shareholders, customers and employees." Shinhan Financial Group Co., Ltd. is Korea's largest financial holding company, established in September 2001 and delivering a complete range of high quality financial services via a single global organization. The company is composed of 11 subsidiaries, including Shinhan Bank, Chohung Bank, Jeju Bank, Good Morning Shinhan Securities, Shinhan Card, Shinhan BNP Paribas Investment & Trust Management Co., Shinhan Capital, Shinhan Macquarie Advisory, and e-Shinhan. For further information about the company, visit www.shinhangroup.com. About Citigroup Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com. About Citibank Depositary Receipt Services Citibank Depositary Receipt Services leads the market in bringing quality issuers to the U.S. market and promoting American Depositary Receipts as an effective capital markets tool. Citibank began offering ADRs in 1928 and today is widely recognized for providing non-U.S. companies with a gateway to the world of resources Citigroup has to offer. In addition, our financial strength and global presence provides clients with access to Citigroup's on-the-ground presence and in-depth knowledge of 90 local markets. For further information about ADRs, visit www.citigroup.com/adr. Depositary Receipt Services is a product area within Citigroup(R) Global Transaction Services is a leading provider of integrated cash management, trade finance and securities services for corporations, financial institutions, intermediaries and governments around the world. With over $ 85 billion in average liability balances, more than $5.5 trillion in assets under custody and the largest proprietary branch network, Citigroup's award-winning operating systems and Internet-based delivery channels enable clients to manage and monitor working capital and investments more efficiently, streamline transaction processing cycles, and re-engineer receivables and payment processes. Citigroup(R) Global Transaction Services provides clients with access to Citigroup's full range of capabilities and solutions along with an on-the-ground presence and in-depth knowledge of more than 90 local markets. For additional information, see www.transactionservices.citigroup.com. Citigroup Global Transaction Services is part of Citigroup's global corporate and investment bank, which provides complete financial solutions to corporations, governments and institutional investors in more than 100 countries. Award-winning businesses include corporate and investment banking, sales and trading, transaction services, commercial finance and insurance products. Additional information can be found at: www.citigroupssb.com. |
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