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CITIGROUP INC.

(C)
  Report
Delayed Nyse  -  04:03 2022-11-30 pm EST
48.41 USD   +1.77%
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Citi Appointed as Depositary Bank for Joincare Pharmaceutical Group Industry Co., Ltd.'s GDR Program

09/27/2022 | 09:08am EST

Continued Participation in China-Swiss Stock Connect GDR Programs

Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Joincare Pharmaceutical Group Industry Co., Ltd. (“Joincare”) – an innovative and scientific research-oriented pharmaceutical group engaged in the research and development, production and distribution of pharmaceuticals and healthcare products – to act as Depositary Bank for its Global Depositary Receipt (“GDR”) program.

Joincare’s GDR program was established in connection with a US$92,035,650 initial public offering of its GDRs, priced at US$14.42 per GDR. The GDRs are listed on the SIX Swiss Exchange under the symbol “JCARE”. Each GDR represents ten (10) A shares. Joincare’s A shares are listed and traded on the Shanghai Stock Exchange (“SSE”) under the stock code 600380.

Mr. Zhu Baoguo, Chairman of the Company, commented:

“We are delighted with our successful GDR Offering, and we would like to extend our gratitude to our investors for their full confidence in and recognition of the company. This is an important milestone of Joincare’s internationalization. We firmly believe that our strong R&D capabilities, diversified product matrix and leading commercialization capabilities will promote the company’s continuous development in the future. We further expect that the offering of GDRs will also further enhance our global image, expand our financing channels and accelerate our internationalization. We look forward to unveiling a new chapter of Joincare with our investors.”

“We are pleased to be the Depositary Bank for Joincare’s GDR Programs listed on the SIX Swiss Exchange -- the sixth issuer listed as part of the China-Swiss Stock Connect GDR Program. This continues our role as the depositary bank for all the Connect GDR programs listed so far, including five listed on the London Stock Exchange and four listed on the SIX Swiss Exchange,” said Dirk Jones, Global Head of Citi’s Issuer Services.

“Citi’s cross-regional capabilities, global network, the ability to enhance investor access, and our experience gained from the previous Connect GDR programs will serve these issuers well. We expect to see more issuers raise capital and participate through the Connect Scheme in the future,” he added.

Citi is a leading provider of depositary receipt services. With depositary receipt programs in 67 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.

For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr.

About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in more than 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi


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Financials (USD)
Sales 2022 75 200 M - -
Net income 2022 14 115 M - -
Net Debt 2022 - - -
P/E ratio 2022 6,76x
Yield 2022 4,22%
Capitalization 93 763 M 93 763 M -
Capi. / Sales 2022 1,25x
Capi. / Sales 2023 1,22x
Nbr of Employees 238 000
Free-Float 62,4%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 48,41 $
Average target price 56,20 $
Spread / Average Target 16,1%
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Managers and Directors
Jane Nind Fraser President, Chief Executive Officer & Director
Mark A. L. Mason Chief Financial Officer-Institutional Clients
John C. Dugan Chairman
Mike Whitaker Head-Operations & Technology
Mary Mcniff Chief Compliance Officer
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