Citi’s Issuer Services business, acting through Citibank, N.A. has been appointed by Ruhnn Holding Limited (“Ruhnn”), a Cayman Islands exempted company with operations in China, as the depositary bank for its American Depositary Shares (ADR) program.
Ruhnn’s ADR program was established in connection with a $125.00 million initial public offering of its ADRs (assuming no exercise by the underwriters of their over-allotment option), priced at $12.50 per ADR. Listed on the Nasdaq Global Select Market under the symbol “RUHN”, each ADR represents five Class A ordinary share of Ruhnn. As a single-listed ADR program, the underlying Class A ordinary shares are not listed or publicly traded in Ruhnn’s home market.
“Citi is committed to being the best for our clients. We look forward to providing Ruhnn and its investors with the highest quality ADR services,” said Dirk Jones, Head of Global Issuer Services at Citi. “We are proud to be selected as the Depositary Bank for Ruhnn’s ADR program.”
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 61 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.
For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr.
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Citi Global Public Affairs
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