Citi’s Global Transaction Services business, acting through Citibank N.A., has been appointed by Husqvarna AB (Husqvarna), a Sweden based company, as successor depositary for its sponsored Level 1 American Depositary Receipt (ADR) program. Husqvarna’s ADR program trades in the OTC marketplace under the symbol HSQVY, with each ADR comprised of 2 ordinary shares. Husqvarna’s ordinary shares are listed on the NASDAQ OMX Stockholm.
Boel Sundvall, Senior Vice President Corporate Communications & IR of Husqvarna commented, “We are pleased with the appointment of Citi as our new ADR depositary and look forward to working closely with them to add continued value both to our existing and potential shareholders in the U.S.”
Dirk Jones, Global Head of Securities Funds Services Client Sales Management said, “We are very pleased that Husqvarna has chosen Citi as successor depositary for its sponsored Level 1 ADR program. We’re confident that we can help Husqvarna increase their program visibility in the market through our unparalleled global distribution network and our comprehensive investor relations program.”
Global Transaction Services, a division of Citigroup’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2010, it held on average $340 billion in liability balances and $12.4 trillion in assets under custody.
Through its Securities and Fund Services business, Citi offers issuers of debt and equity, globally consistent capabilities, and local expertise, backed by over 100 years of serving clients in markets across the globe. We deliver specialized solutions for complex capital market transactions across more than 70 countries.
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