Citi Appointed Depositary for 58.com Sponsored ADR program
New York, NY - November 7, 2013 – Citi, acting through Citibank N.A., has been appointed by 58.com Inc. ("58.com"), a Cayman Islands registered China based company, as depositary bank for its Level 3 American Depositary Receipt (ADR) program.
58.com's ADR program was established through a $215,050,000.00 offering, originally priced at $17.00 per ADR. The ADRs are listed on the NYSE under the symbol "WUBA". Each ADR represents two ordinary shares; however, as a single-listed ADR program, the underlying ordinary shares are not listed or publicly traded in the issuer's home market.
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management said, "We are very pleased to have been selected as depositary bank for 58.com's ADR program. We are confident that we can leverage the breadth of Citi's unparalleled global presence and investor relations expertise to assist them in fulfilling the goals that they have set for the program."
Citi is a leading provider of Depositary Receipt Services. With Depositary Receipt programs in 55 markets, Citi leverages its global network to help companies connect to new markets and raise capital worldwide.
According to 58.com Inc. (NYSE: WUBA), it operates China's largest online marketplace serving local merchants and consumers, as measured by monthly unique visitors on both its www.58.com website and mobile applications. The Company's online marketplace enables local merchants and consumers to connect, share information and conduct business. 58.com's broad, in-depth and high quality local information, combined with its easy-to-use website and mobile applications, has made it a trusted marketplace for consumers. The Company says that its strong brand recognition, large and growing user base, merchant network and massive database of local information create a powerful network effect. For more information on 58.com, please visit http://www.58.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.
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