Citi Appointed Successor Depositary for AB Electrolux’s ADR Program
London - January 31, 2012 – Citi today announced that its Global Transaction Services business, acting through Citibank, N.A., has been appointed by AB Electrolux, a global leader in household appliances and appliances for professional use, as the successor depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) program. Electrolux’s ADR program trades in the OTC marketplace under the symbol "ELUXY," with 2 ordinary shares represented by 1 ADR. AB Electrolux’s ordinary shares are listed on the NASDAQ OMX Stockholm.
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management at Citi, said: "We look forward to working closely with Electrolux and leveraging Citi’s global distribution network to maximize the value and the visibility of their ADR program."
Citi OpenInvestorSM is the investment services solution for today’s diversified investor, combining specialized expertise, comprehensive capabilities and the power of Citi’s global network to help our clients meet their performance objectives across asset classes, strategies and geographies. Citi provides complete investment services for traditional and alternative asset managers, delivering middle office, fund services, custody, and investing and financing solutions that are focused on our clients’ specific challenges and customized to their individual needs.
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 95 countries, Citi’s Global Transaction Services supports over 65,000 clients. As of the fourth quarter of 2011, it held on average $368 billion in liability balances and $12.5 trillion in assets under custody.
Electrolux is a global leader in household appliances and appliances for professional use, selling more than 40 million products to customers in more than 150 markets every year. The company focuses on innovative products that are thoughtfully designed, based on extensive consumer insight, to meet the real needs of consumers and professionals. Electrolux products include refrigerators, dishwashers, washing machines, cookers, air-conditioners and small appliances such as vacuum cleaners sold under esteemed brands like Electrolux, AEG, Eureka and Frigidaire. In 2010 Electrolux had sales of SEK 106 billion and 52,000 employees. For more information go to www.electrolux.com/pres and www.electrolux.com/news.
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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