Citi Appointed Depositary for Balfour Beatty plc’s Sponsored Level 1 ADR Programme
London, ENG - June 19, 2012 –Citi today announced that its Citi Transaction Services business, acting through Citibank N.A., has been appointed by Balfour Beatty plc (Balfour Beatty), the international infrastructure group, as depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) programme. Balfour Beatty’s ADR programme trades in the OTCQX platform in the US over-the-counter (OTC) market under the symbol BAFYY, with each ordinary share comprised of 4 ADRs. Balfour Beatty’s ordinary shares are listed on the London Stock Exchange..
Basak Kotler, Head of Investor Relations, Balfour Beatty plc said, "We have experienced considerable expansion in our US investor base in the last couple of years, and are excited about the prospect of working with Citi to gain further access to US institutions through the ADR vehicle."
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management said, "By establishing a sponsored level 1 ADR programme, Balfour Beatty has signaled its commitment to securing further investment from US investors. We are very pleased to have been selected as depositary bank for Balfour Beatty’s ADR programme, and through our outstanding IR initiatives, we are confident that we can assist them in fulfilling the goals that they have set for the programme."
For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
Citi 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, Transaction Services supports over 65,000 clients. As of the first quarter of 2012, it held on average US$377 billion in liability balances and US$13 trillion in assets under custody.
Balfour Beatty plc is a world-class infrastructure group with capabilities in professional services, construction services, support services and infrastructure investments. Balfour Beatty works in partnership with its customers principally in the UK, continental Europe, the US, South-East Asia, Australia and the Middle East, who value the highest levels of quality, safety and technical expertise. Key infrastructure markets include transportation (roads, rail and airports); social infrastructure (education, specialist healthcare, and various types of accommodation); utilities (water, gas and power transmission and generation) and commercial (offices, leisure and retail). The Group delivers services essential to the development, creation and care of these infrastructure assets including project design, financing and management, engineering and construction, and facilities management services. Balfour Beatty employs 50,000 people around the world. Its shares are listed on the London Stock Exchange and it is a member of the FTSE250. Further information is available at www.balfourbeatty.com.
Citi, the leading global bank, 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.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi