Citi Appointed Depositary for Sky-mobi Limited’s Level 3 ADR Program
New York - December 21, 2010 – Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by Sky-mobi Limited (Sky-mobi), a Cayman Islands company based in China, as the depositary bank for its NASDAQ-listed Level 3 American Depositary Receipt (ADR) program. Sky-mobi’s ADR program was established through a $58,000,000 offering, with an initial offering price of $8.00 per ADR. The ADRs are listed under the symbol "MOBI". Each ADR represents 8 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.
Carl Yeung, CFO, Sky-mobi Limited remarked, "Sky-mobi is excited to begin our US listing on NASDAQ. We look forward to increasing value to our shareholders, and providing greater access to our shares for investors in the U.S. capital markets. We are pleased with Citi’s full range of professional services from ADR to investment banking and corporate banking. We look forward to the long term relationship with Citi that will support Sky-mobi’s corporate goals and achieve them around the globe."
"We’re extremely pleased that Sky-mobi has selected Citi as depositary, and look forward to helping them optimize their ADR program," said Dirk Jones, Global Head of Securities and Fund Services Client Sales Management. "As depositary bank for a many of the IPO issues that have originated in China this year, Citi is confident that it can provide Sky-mobi with the resources it needs to establish long-term relationships with both investors and the capital markets."
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.
About Sky-mobi Limited
Sky-mobi Limited (Nasdaq:MOBI) operates the leading mobile application store in China. Sky-mobi works with handset companies to pre-install its Maopao mobile application store on handsets and with content developers to provide users with high quality applications and content titles. Users of the Maopao store can browse, download and purchase a wide range of applications and content such as single-player games, mobile music and books. In addition, Sky-mobi has established a leading mobile social network community in China, the Maopao Community, where it offers popular localized mobile social games as well as applications and content with social network functions to its registered members. The Maopao store enables mobile applications and content to be downloaded and run on a variety of mobile handsets with different hardware and operating system configurations. Additional information may be found at http://en.sky-mobi.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.