Shenghong chooses Citi as GDR depositary bank 10 January 2023Switzerland Reporter: Lucy Carter
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Jiangsu Eastern Shenghong Co (Shenghong) has selected Citi’s Issuer Services as the depositary bank for its global depositary receipt (GDR) programme.
Shengdong operates in the new energy and low-carbon industries, contributing to the research, development, production and sales of related products.
The partnership marks the ninth China-Swiss Stock Connect Programme listed on the Swiss Exchange (SIX), eight of which are served by Citi’s Issuer Services as depository bank. The company serves a further five Connect GDR Programmes listed on the London Stock Exchange.
Dirk Jones, global head of Citi’s Issuer Services, comments: “Citi’s cross-regional capabilities, global network, the ability to enhance investor access, and our experience gained from the previous Connect GDR Programmes will serve this issuer well. We expect to see more issuers raise capital and participate through the Connect Scheme in the future.”
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