Citi Appointed Depositary for Youku.com’s Level 3 ADS Program
New York - December 17, 2010 – Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by Youku.com Inc., a Cayman Islands company based in China, as the depositary bank for its NYSE -listed Level 3 American Depositary Shares (ADS) program. Youku.com’s ADS program was established through a $233 million initial public offering, with an offering price of $12.80 per ADS. The ADSs are listed under the symbol “YOKU”. Each ADS represents 18 Class A ordinary shares; as this is a single-listed ADS program, the underlying ordinary shares are not listed or publicly traded in the issuer’s home market.
Victor Koo, founder and CEO of Youku.com, noted, “Youku’s successful listing on NYSE is a big milestone and we are delighted to have Citi as our depositary bank.” Dirk Jones, Global Head of Securities Funds Services Client Sales Management, said “We are very pleased to have been appointed by Youku.com to participate in their ADS capital raising as depositary bank. With Citi’s excellent investor relations expertise and unmatched global equity distribution network, we’re confident we can deliver the resources required to assist Youku.com in building and maintaining a successful ADS program.”
For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
Through its Securities and Fund Services business, Citi offers issuers of debt and equity, globally consistent capabilities, and local expertise, backed by over 100 years of serving clients in markets across the globe. As a result, Citi is able to deliver specialized solutions for complex capital market transactions across more than 70 countries.
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.