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Citi Appointed as Successor Depositary Bank for Prudential plc's ADR Program

1. Citi Issuer Services appointed as successor depositary for Prudential's ADR program. 2. PUK trades on NYSE and each ADR represents two ordinary shares.

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FAQ

Why Bullish?

The appointment of a prominent institution like Citibank may enhance PUK's liquidity and investor interest, similar to past significant banking partnerships which positively influenced ADR valuations. Increased confidence in the depositary process can translate to a stronger market position for PUK.

How important is it?

The announcement is likely to elevate investor confidence in PUK, especially among U.S.-based investors. Enhanced institutional support through a major entity suggests a more favorable trading environment for PUK's ADRs.

Why Short Term?

The immediate market reactions to such announcements typically occur within days to weeks, as investors reassess the stock based on improved accessibility and trading volume. Historical data shows ADR program changes often lead to upticks in related stock prices in the short run.

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PRU
LONDON--(BUSINESS WIRE)--Citi Issuer Services, acting through Citibank N.A., has been appointed by Prudential plc (“Prudential”) to act as successor depositary bank for its sponsored Level 2 American Depositary Receipt (“ADR”) program. Prudential's ADRs are listed and traded on the New York Stock Exchange under the symbol “PUK”. Each ADR represents two ordinary shares of the company. Prudential's underlying ordinary shares are listed and traded on the London Stock Exchange under the symbol “PRU.

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