Citi Appointed Successor Depositary for Partner Communications’ ADR Program
London - November 29, 2011 – Citi today announced that its Global Transaction Services business, acting through Citibank, N.A., has been appointed by Partner Communications Company Ltd. ("Partner"), a leading Israeli provider of telecommunications services, as the successor depositary bank for its American Depositary Receipt (ADR) program. Partner’s ADRs trade on the NASDAQ under the symbol ‘PTNR,’ with each ADR representing 1 ordinary share. Partner’s ordinary shares are listed on the Tel Aviv Stock Exchange.
Mr. Ziv Leitman, Chief Financial Officer of Partner, commented: "We are pleased with the appointment of Citibank as our new ADR depositary and look forward to working closely with them to add value both to our existing and potential shareholders in the U.S."
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management at Citi, said: "It’s a privilege to be appointed by Partner, a leading telecommunications company in Israel, as successor depositary bank for their ADR program. With Citi’s excellent investor relations expertise and unmatched global equity distribution network, we’re confident we can provide outstanding investor access and awareness to Partner’s ADR program."
Through its Securities and Fund Services business, Citi’s industry-focused experts provide investors worldwide with tailored solutions delivered through proven global platforms that feature modular, open architecture. With over $12.5 trillion of assets under custody and the industry's largest proprietary network, clients can leverage Citi’s local market expertise and global reach to extract value across the entire investment value chain.
Global Transaction Services, a division of Citi’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 2011, it held on average $365 billion in liability balances and over $12.5 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. 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.
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