1. Citi appointed as Depositary Bank for POM's ADR program. 2. POM's ADS will price at $4.00, totaling $23 million offering. 3. Citi commits to high-quality ADR services for POM and its investors. 4. Citi leverages global network for cross-border capital market access. 5. Citi operates in nearly 180 countries, enhancing global financial presence.
This news does not significantly affect C's fundamental business model or market positioning. There is potential for client growth, but it does not guarantee increased revenues immediately.
While this news highlights Citi's capabilities, it does not suggest an immediate financial impact. However, being the bank for new offerings can enhance Citi's visibility in growth sectors.
The ADR program may attract initial investor interest, which could influence C's stock in the near term. Long-term effects will depend on the performance and demand for POM's ADS.
Citi Issuer Services, acting through Citibank, N.A., has been appointed by POMDOCTOR LIMITED (POM), a Chinese online medical services platform, as Depositary Bank for its American Depositary Receipt (ADR) program.
The American Depositary Shares (ADS) of POM trade on the Nasdaq Stock Exchange under the ticker "POM". Every six (6) ADSs represent one (1) Class A ordinary share of POM. The initial public offering price is US$4.00 per ADS in connection with a total offering size of US$23 million including the greenshoe exercise.
"Citi is committed to providing POM and its investors with the highest quality ADR services. Our extensive global network and deep capital markets expertise enable us to deliver value to issuers like POM through access to global markets and growth opportunities," said Dirk Jones, Global Head of Citi Issuer Services.
Citi is a leading provider of depositary receipt services. With depositary receipt programs in over 65 markets, spanning equity and fixed-income products, Issuer Services leverages Citi's global network to provide cross-border capital market access to issuers, intermediaries and investors.
For more information about Citi's Depositary Receipt Services, please visit www.citi.com/dr.
About Citi
Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 180 countries and jurisdictions, providing corporations, governments, investors, institutions, and individuals with a broad range of financial products and services.
Additional information may be found at www.citigroup.com | Twitter: @Citi | LinkedIn: www.linkedin.com/company/citi | YouTube: www.youtube.com/citi | Facebook: www.facebook.com/citi
View source version on businesswire.com: https://www.businesswire.com/news/home/20251017168713/en/
Citi Media Contacts:
Harsha Jethnani harsha.jethnani@citi.com
Ai Li She ai.li.she@citi.com