PVTIME - Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by SDIC Power Holding Co., Ltd. (“SDIC Power”) – a leading power generation company in China, established under the laws of the People’s Republic of China - to act as Depositary Bank for its Global Depositary Receipt (“GDR”) program.
SDIC Power’s GDR program was established in connection with a US$200.6 million initial public offering of its GDRs (or approximately $220.7 million, if the underwriters exercise their over-allotment option in full), priced at US$12.27 per GDR. The GDRs are listed on the Shanghai-London Stock Connect (“SLSC”) segment of the Main market of the London Stock Exchange (“LSE”) under the symbol “SDIC”. Each GDR represents ten A shares. SDIC Power’s A shares are listed and traded on the Shanghai Stock Exchange (“SSE”) under the stock code 600886.
Zhu Jiwei, Chairman of the Company, stated: “We are proud to announce the successful pricing of SDIC Power’s GDR Offering, following the positive response to our company on our recent virtual roadshow from international investors. Our London listing reinforces the global presence of SDIC Power and reflects the company’s expansion from its home market into other regions of Asia and into Western Europe. Enhanced access to international capital markets through the Shanghai-London Stock Connect channel will support SDIC Power’s commitment to continue to invest in, develop and operate clean energy projects, as we implement our global growth strategy.”
“Citi is proud to be appointed as the Depositary Bank for SDIC Power’s LSE Listed GDR Program,” saidDirk Jones, Head of Global Issuer Services at Citi. “Citi has been appointed as the Depositary Bank for all four LSE GDR programs listed thus far. We are committed to providing SDIC Power and its investors with the highest quality services by leveraging our cross-regional capabilities, global network and our experience gained in other SLSC programs.”
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 67 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.