Citi Appointed Successor Depositary for Husqvarna AB’s ADR Program
New York - December 17, 2010 – Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by Husqvarna AB (Husqvarna), a Sweden based company, as successor depositary for its sponsored Level 1 American Depositary Receipt (ADR) program. Husqvarna’s ADR program trades in the OTC marketplace under the symbol HSQVY, with each ADR comprised of 2 ordinary shares. Husqvarna’s ordinary shares are listed on the NASDAQ OMX Stockholm.
Boel Sundvall, Senior Vice President Corporate Communications & IR of Husqvarna commented, "We are pleased with the appointment of Citi as our new ADR depositary and look forward to working closely with them to add continued value both to our existing and potential shareholders in the U.S."
Dirk Jones, Global Head of Securities Funds Services Client Sales Management said, "We are very pleased that Husqvarna has chosen Citi as successor depositary for its sponsored Level 1 ADR program. We’re confident that we can help Husqvarna increase their program visibility in the market through our unparalleled global distribution network and our comprehensive investor relations 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 third quarter of 2010, it held on average $340 billion in liability balances and $12.4 trillion in assets under custody.
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. We deliver specialized solutions for complex capital market transactions across more than 70 countries. For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
About Husqvarna AB
The Husqvarna Group is the world’s largest producer of outdoor power products including chainsaws, trimmers, blowers, lawn mowers and garden tractors. It is the European leader in consumer irrigation equipment under the Gardena brand. The Group is also one of the world leaders in cutting equipment and diamond tools for the construction and stone industries. The product offering includes products for both consumers and professional users. The Group’s products are sold at 25,000 dealers and major retailers in over 100 countries world wide. Net sales in 2009 amounted to SEK 34 billion, and the average number of employees was approximately 15,000. Additional information may be found at: www.husqvarna.com.
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.