NEW YORK–(BUSINESS WIRE)–Citi�s Issuer Services business, acting through Citibank, N.A., has been appointed by Ming Yang Smart Energy Group Limited (Ming Yang) a leading wind turbine manufacturer in China to act as Depositary Bank for its Global Depositary Receipt (GDR) program.
Ming Yangs GDR program was established in connection with a US$656.9 million initial public offering of its GDRs (or US$706.9 million, if the underwriters exercise their over-allotment option in full), priced at US$21.00 per GDR. The GDRs are listed on the Shanghai-London Stock Connect (SLSC) segment of the Main market of the London Stock Exchange (LSE) under the symbol MYSE. Each GDR represents five (5) A shares. Ming Yangs A shares are listed and traded on the Shanghai Stock Exchange (SSE) under the stock code 601615.
As a leading wind turbine manufacturer, we aim to become a full lifecycle renewable solutions provider. Through technological and business innovations, we have developed into a leading smart energy enterprise in China with global influence, gradually becoming an industry leader in providing integrated wind power, photovoltaics, power storage and hydrogen power solutions. The GDR issuance of Ming Yang Smart Energy will promote the implementation of our strategies and help the company’s internationalization process. said Mr. Zhang Chuanwei, Chairman, Chief Executive Officer and General Manager of Ming Yang.
We are truly grateful to be appointed as the Depositary Bank for Ming Yangs LSE-Listed GDR Program, and it is our honor to be the depositary bank for all five SLSC GDR programs listed so far, said Dirk Jones, Global Head of Issuer Services at Citi. Citis cross-regional capabilities, global network, the ability to enhance investor access, and our experience gained from the previous SLSC GDR programs will serve Ming Yang well. We expect to see more and more issuers raise capital and brand themselves through the Connect Scheme in the future.
Citi is a leading 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.
For more information about Citis Depositary Receipt Services, please visit www.citi.com/dr.
About Citi
Citi, the leading 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.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
Contacts
Media Contact:
Nina Das
Citi Institutional Clients Group
+1 (212) 816-9267
Nina.Das@citi.com
Providing High-end Imaging Services: Establishing a New Benchmark for Personalized Medical Imaging Services HONG KONG…
JAKARTA, INDONESIA - Media OutReach Newswire - 22 November 2024 - VinFast Auto has officially…
SYDNEY, AUSTRALIA - Media OutReach Newswire - 22 November 2024 - The global cryptocurrency market…
HANOI, VIETNAM – Media OutReach Newswire - 22 November 2024 - By capitalizing on its…
HANGZHOU, CHINA - Media OutReach Newswire - 22 November 2024 - As the 2024 World…
BEIJING, CHINA - Media OutReach Newswire - 22 November 2024 - The 2024 Beijing Changping…