Citi, acting through Citibank N.A., has been appointed by Sky Solar Holdings, Ltd. (“Sky Solar”), as the Depositary Bank for its American Depositary Receipt (“ADR”) program.
Sky Solar’s ADR program was established in connection with a $50,830,000 initial public offering, originally priced at $8.00 per ADR. The ADRs are listed on the NASDAQ Global Select Market under the symbol “SKYS.” Each ADR represents eight (8) ordinary shares; however, as a single-listed ADR program, the underlying ordinary shares are not listed or publicly traded in the issuer’s home market.
“Citi is proud to be selected as depositary bank for Sky Solar’s ADR program,” said 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.”
Citi is a leading provider of Depositary Receipt Services. With Depositary Receipt programs in 55 markets, Citi leverages its global network to help companies connect to new markets and raise capital worldwide.