CITI APPOINTED DEPOSITARY FOR
7 DAYS GROUP’S NYSE-LISTED ADR PROGRAM
New York, Hong Kong - November 30, 2009 – Citi’s Global Transaction Services business, acting through Citibank N.A., today announced that it has been appointed by 7 Days Group Holdings Limited ("7 Days"), a leading national economy hotel chain based in China, as the depositary bank for its new NYSE-listed American Depositary Receipt (ADR) program.
7 Days’ ADR program was established through a $111.1 million offering, originally priced at $11.00 per ADR, representing the third IPO of 2009 conducted in ADR form and listed on the New York Stock Exchange. 7 Days’ ADRs are listed under the symbol SVN, with each ADR representing three (3) ordinary shares.
Siu-chan Kwan, Asia-Pacific Head of Depositary Receipt Services at Citi said, "We are delighted to have been awarded this mandate by 7 Days Group. Furthermore, we look forward to leveraging Citi’s value-added resources, including our unmatched equity distribution network and specialized global investor relations advisory team to assist 7 Days in optimizing the benefits of their ADR program."
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, Citi’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2009, it held on average $314 billion in liability balances and $11.8 trillion in assets under custody. For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
About 7 Days Group
7 Days is a leading and fast growing national economy hotel chain based in China. It converts and operates limited service economy hotels across major metropolitan areas in China under its award-winning "7 Days Inn" brand. 7 Days strives to offer consistent and high-quality accommodations and services primarily to the growing population of value-conscious business and leisure travelers who demand affordable, clean, comfortable, convenient and safe lodging, and to respond to its guests’ needs. Additional information may be found at http://en.7daysinn.cn.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 140 countries. Through its two operating units, 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.