Sky Solar Appoints Citi for ADR IPO

Citi has been appointed by Hong Kong-based Sky Solar as the depositary bank for its American Depositary Receipt (ADR) program.

As part of the ADR offering, Sky Solar conduction an initial public offering on NASDAQ, raising over $50 million. Each ADR represents eight ordinary shares, but the underlying ordinary shares are not listed or publicly traded.

“Citi is proud to be selected as depositary bank for Sky Solar’s ADR program,” says Dirk Jones, head of Global Issuer Services at Citi. “We are confident that with Citi’s vast global presence and investor relations expertise, we can help Sky Solar reach its goals for the program.”