Citibank establishes ADR programs for Henderson Land Development Company Ltd. and Henderson Investment Limited.NEW YORK--(BUSINESS WIRE)--July 13, 1995--Citibank, N.A. is pleased to announce that it has established 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 ) programs for two Hong Kong holding companies, Henderson Land Development Henderson Land Development Co. Ltd. (Chinese:恒基兆業地產有限公司) is a listed property company and a constituent of the Hang Seng Index. Company Limited and Henderson Investment Limited. The ADR shares for each program, for which Citibank acts as a depositary, will trade over-the-counter. For the Henderson Land program, each American Depositary Share American Depositary Share (ADS) Foreign stock issued in the US and registered in the ADR system. (ADS) issued represents one ordinary share. Henderson Land's ADR will trade under the symbol "HLDCY" (cusip #425166 30 3). For the Henderson Investment program, each American Depositary Share (ADS) will represent five ordinary shares. Henderson Investment's ADRs will trade under the symbol "HIVLY" (cusip #425070 10 9). According to the company, Henderson Land and its member companies are active in property development and investment, project management, construction, property management finance and investment holding. The company holds a stake in Henderson Investment Ltd. and its certain wholly-owned subsidiaries hold shares in Hong Kong Ferry, Hong Kong Gas and Miramar Hotel and Investment. Henderson Land also participates in property development joint ventures in China. According to Henderson Land's year end June 30, 1994 report, net profit reached a record high of HK $6,038,002,000 representing an increase of 51% over 1993. "We are very pleased to establish these sponsored American Depositary Receipt sponsored American Depositary Receipt An American Depositary Receipt in which the company whose shares are held in custody has direct involvement in issuance of the ADRs. programs. They mark an important next step in our company's evolution since going public on the Hong Kong Stock Exchange The Hong Kong Stock Exchange (Traditional Chinese: 香港交易所, also 港交所; abbreviated as HKEX; HKSE: 0388 ) is the stock exchange of Hong Kong. ," said Colin Lam Ko Yin, vice chairman, of both Henderson Land Development Company Limited and Henderson Investments Limited. Citibank is a leading depositary serving over 500 issuers worldwide. The bank began offering 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 in 1928 and has been the leading market innovator in recent years. With a local presence in 95 countries and unsurpassed strength in delivering on-line information, Citibank is uniquely qualified to support the funding needs of issuers around the world. CONTACT: Citibank, N.A., New York Jarvis Cromwell, 212/657-0195 or Henderson Land Development Company Ltd., Hong Kong William Wong Wing Lun, 852/2826-5319 REPEATS: New York 212-575-8822 or 800-221-2462; Boston 617-330-5311 or |
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