CITI APPOINTED DEPOSITARY FOR COUNTRY STYLE COOKING’S SPONSORED ADR PROGRAM
New York - October 4, 2010 – Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by Country Style Cooking Restaurant Chain Co. Ltd. ("Country Style Cooking"), a Cayman Islands registered, China-based company, as the depositary bank for its NYSE-listed Level 3 American Depositary Receipt (ADR) program.
Country Style’s ADR program was established through an $94,875,000 offering, originally priced at $16.50 per ADR. The ADRs are listed on the NYSE under the symbol "CCSC". Each ADR represents 4 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.
"Our ADR program is key to reaching investors in the U.S. capital market. Citi’s support has been instrumental in establishing our ADR, and ultimately in helping position our company for a broad and knowledgeable investor base." said Roy Rong, CFO of Country Style Cooking.
Nancy Lissemore, Global Head of Depositary Receipt Services at Citi, said, "With access to an unmatched global equity distribution network and investor relations expertise, Citi can help Country Style Cooking broaden their shareholder base and expand their liquidity as they seek to build and maintain a successful Level 3 DR program."
Global Transaction Services, a division of Citigroup’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the second quarter of 2010, it held on average $320 billion in liability balances and $11.3 trillion in assets under custody. For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
About Country Style Cooking
Country Style Cooking Restaurant Chain Co., Ltd. operates a quick service restaurant chain in China. The Company’s restaurants offer dishes prepared in the Sichuan style as well as a wide selection of other dishes, appetizers, desserts and beverages.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through Citicorp and Citi Holdings, 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. Additional information may be found at www.citigroup.com or www.citi.com .