Citi Appointed Depositary for RDA Microelectronics, Inc.’s Sponsored ADR Program
New York - November 17, 2010 – Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by RDA Microelectronics, Inc. ("RDA"), a Cayman Islands company based in China, as the depositary bank for its NASDAQ-listed Level 3 American Depositary Receipt (ADR) program. RDA’s ADR program was established through a $77,625,000 offering, with an initial offering price of $9.00 per ADR.The ADRs are listed under the symbol "RDA". Each ADR represents 6 ordinary shares; as this is a single-listed ADR program, the underlying ordinary shares are not listed or publicly traded in the issuer’s home market.
Lily Dong, CFO of RDA, noted, "RDA’s successful listing on NASDAQ is a big milestone and we are delighted to have Citi as our depositary bank. We look forward to providing value to our shareholders by leveraging Citi’s value-added resources and strong track record."
Miguel Perez-Lafaurie, Head of Depositary Receipt Services at Citi for the Asia Pacific Region, said, "We are delighted to be appointed by RDA as their depositary bank. With the combination of Citi’s investor relations expertise and its global equity distribution network, we are confident we can deliver the resources required to assist RDA in implementing and managing a successful ADR program."
For more information on Citi’s Depositary Receipt Services, visit /www.citi.com/dr.
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 third quarter of 2010, it held on average $340 billion in liability balances and $12.4 trillion in assets under custody.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. 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.