Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by América Móvil S.A.B. de C.V., one of the largest integrated telecommunications companies in the world, as the successor depositary bank for its sponsored American Depositary Receipt (ADR) programs.
América Móvil’s ADRs are traded on the New York Stock Exchange under the symbol “AMX” for its ADRs representing L shares and on the NASDAQ Stock Market under the symbol “AMOV” for its ADRs representing A shares. Each ADR represents 20 L or A shares, respectively. América Móvil is based in Mexico and its underlying L and A shares are listed on the Mexican Stock Exchange.
“Providing value for our ADR holders is an important commitment, and we look forward to working with Citi to further develop and improve our ADR programs,” said Carlos Garcia Moreno, CFO of América Móvil.
“We are honored to be appointed successor depositary bank for América Móvil’s ADR programs,” said Dirk Jones, Head of Global Issuer Services at Citi. “With Citi’s investor relations expertise and global presence, we are confident we can facilitate the continued success of América Móvil’s ADR programs.”
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 56 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.
America Movil SAB de CV is a Mexico-based company primarily engaged in providing wireless communications services in Latin America. The Company’s activities include offering mobile and landline telephony services, broadband access, as well as cable and satellite television. It has operations established in 25 countries, including Mexico, Brazil, Argentina, Chile, Paraguay, Uruguay, Colombia, Panama, Ecuador, Peru and the United States, among others.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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