Citi named depositary bank for RYB Education's sponsored ADR program.
BANKING AND CREDIT NEWS-October 16, 2017-Citi named depositary bank for RYB Education's sponsored ADR program
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Citi's Issuer Services business, acting through Citibank, N.A., has been appointed by RYB Education, Inc., a Cayman Islands exempted company with limited liability and operations in China, as the depositary bank for its American Depositary Shares (ADS) program, the company said.
RYB's program was established through a USD 165.9 million initial public offering of its ADSs (inclusive of the fully exercised over-allotment option), priced at USD 18.50 per ADS. The ADSs are listed on the New York Stock Exchange under the symbol "RYB." Each ADS represents one ordinary share of RYB. As a single-listed ADS program, the underlying ordinary shares are not listed or publicly traded in the issuer's home market.
Citi is a provider of depositary receipt services. With depositary receipt programs in 61 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.
Citi, the global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Oct 16, 2017|
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