Citi has been appointed by insurance provider Suncorp as the depositary bank for Suncorp’s sponsored Level 1 American Depositary Receipt (ADR) program, which will trade over-the-counter in the U.S.
Suncorp’s ordinary shares are listed on the Australian Stock Exchange, and the company’s ADR shares will trade over-the-counter in the U.S. under the symbol “SNMCY,” with one ADR representing one ordinary share.
In addition to providing insurance, Suncorp also provides superannuation and investment brands in Australia and New Zealand.
“Suncorp has a substantial overseas investor base and we are excited about the prospect of working with Citi to gain further access to U.S. investors through the ADR program,” says Steve Johnston, Suncorp’s deputy chief financial officer.
“We are delighted to be appointed depositary bank for Suncorp’s ADR program,” says Dirk Jones, global head of securities and fund services client sales management at Citi. “With our investor relations expertise and unparalleled global presence, Citi has a powerful platform to enable the success of Suncorp’s ADR program.”
Suncorp Selects Citi for ADR Program
Citi has been appointed by insurance provider Suncorp as the depositary bank for Suncorp's sponsored Level 1 American Depositary Receipt (ADR) program, which will trade over-the-counter in the U.S.
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