Citi appointed custodian bank for GDR programs of GEM Co. Ltd., Gotion High-Tech Co. Ltd., Keda Industrial Group Co. Ltd. and Ningbo Shanshan Co. Ltd., the first four GDR China-Swiss Stock Connect programs


NEW YORK–(BUSINESS WIRE)–Citi’s Issuer Services, acting through Citibank, NA, has been appointed by GEM Co., Ltd., Gotion High-tech Co., Ltd., Keda Industrial Group Co., Ltd. and Ningbo Shanshan Co., Ltd. – to act as depository bank for their Global Depositary Receipt (“GDR“) programs. These are the first four China-Swiss Stock Connect programs listed on the SIX Swiss Exchange.

GEM Co.,Ltd

GEM Co.,Ltd (“GEM”) is a global industry leader in new energy materials and urban mining.

GEM’s GDR program was established through a US$346 million initial public offering of its GDRs (or $381 million, if the underwriters exercise their over-allotment option in full), at a price of 12. US$28 per GDR. GDRs are listed on the SIX Swiss Exchange under the symbol “GEM”. Each GDR represents ten (10) A shares. GEM A shares are listed and traded on the Shenzhen Stock Exchange under stock code 002340.

Gotion High-tech Co., Ltd.

Gotion High-tech Co., Ltd. (“Gotion”) is a global leader and growing provider of new energy solutions.

Gotion’s GDR program was established through a US$685 million initial public offering of its GDRs, priced at US$30 per GDR. GDRs are listed on the SIX Swiss Exchange under the symbol “GOTION”. Each GDR represents five (5) A shares. Gotion A shares are listed and traded on the Shenzhen Stock Exchange under stock code 002074.

Keda Industrial Group Co., Ltd.

Keda Industrial Group Co., Ltd. (“Keda”) is currently the largest and the second largest supplier of construction ceramics machinery and equipment in Asia and the world, respectively.

Keda’s GDR program was established through a US$173 million initial public offering of its GDRs, priced at US$14.43 per GDR. GDRs are listed on the SIX Swiss Exchange under the symbol “KEDA”. Each GDR represents five (5) A shares. Keda A shares are listed and traded on the Shanghai Stock Exchange under stock code 600499.

Ningbo Shanshan Co., Ltd.

Ningbo Shanshan Co., Ltd. (“shanshan”) is one of the world’s leading advanced materials manufacturers, dedicated to the design, development, manufacture and sale of materials and polarizers for lithium-ion batteries.

Shanshan’s GDR program was established through a US$319 million initial public offering of its GDRs, priced at US$20.64 per GDR. GDRs are listed on the SIX Swiss Exchange under the symbol “SSNE”. Each GDR represents five (5) A shares. Shanshan A shares are listed and traded on the Shanghai Stock Exchange under stock code 600884.

“We are grateful to be the custodian bank for the GDR programs of GEM, Gotion, Keda and Shanshan listed on the SIX Swiss Exchange, the first four issuers listed under the China-Swiss Stock Connect GDR program. This is another step in the Connect initiative between China and Europe, and another step after the launch of Shanghai-London Stock Connect in 2019,” said Dirk Jones, Global Head of Services to Citi issuers. “We are pleased to be the depository bank for all Connect GDR programs listed to date, including five listed on the London Stock Exchange,” he added.

“Citi’s cross-regional capabilities, global network, ability to improve investor access, and our experience from previous Connect GDR programs will serve these four issuers well. We expect to see more issuers raise capital and participate through the Connect Scheme in the future. »

Citi is a leading certificate of deposit service provider. With certificate of deposit programs in 67 markets, covering 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 certificate of deposit services, please visit www.citi.com/dr.

About Citi

Citi is a premier banking partner for institutions with cross-border needs, a global leader in wealth management, and a popular personal bank in its home market, the United States. Citi does business in more than 160 countries and jurisdictions, providing businesses, governments, investors, institutions and individuals with a wide range of financial products and services.

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