German 3D Printer Appoints Citi as Depositary Bank

Citi’s Securities and Fund Services has been appointed by Germany-based voxeljet, a 3D printer manufacturer, as the depositary bank for the comapny’s Level 3 American Depositary Receipt (ADR) program.

As opposed to other ADRs that represent shares of a company traded on a foreign stock exchange, the Level 3 ADR is an actual capital raising tool, and voxeljet is only listed on the New York Stock Exchange.

“Citi is delighted to be appointed by voxeljet as depositary bank for their Level 3 ADR program,” says Dirk Jones, global head of Securities and Fund Services client sales management. “voxeljet’s decision to list its shares solely on NYSE is a reflection of the renewed interest from U.S. investors for European equities. Citi’s investor relations expertise and unmatched global equity distribution network will be a powerful platform for voxeljet to manage their ADR program going forward.”