British American Tobacco p.l.c. (BAT), the world’s second largest quoted tobacco group by global market share, selects Citi as depositary bank for its American Depositary Receipt (ADR) program.
Being a part of Citi’s Global Transaction Services business, Depositary Receipt Services delivers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations.
British American Tobacco’s ADRs currently trade on NYSE Alternext, the rebranded identity of the former American Stock Exchange (Amex) equities business, under the symbol BTI (CUSIP: 110448107). The Amex was officially acquired by NYSE Euronext on 1 October 2008. BAT’s ordinary shares trade on the London Stock Exchange under the symbol BATS. Each ADR represents two ordinary shares.
We are delighted to be serving as the new depositary bank for British American Tobacco, says Nancy Lissemore, global head of Depositary Receipt Services, Citi. We look forward to leveraging Citi’s value-added resources, including our product and market expertise, wealth of experience in investor relations support, and unmatched global distribution network to assist BAT in maximizing the benefits of their ADR program.
We are very pleased with the appointment of Citi as our new ADR depositary and are looking forward to developing a strong working relationship with Citi, which I am sure will benefit both British American Tobacco and its ADR holders, says Ralph Edmondson, head of Investor Relations, British American Tobacco.
L.D.