Debenhams Appoints Citi as Depositary Bank for ADR Programme
UK retailer Debenhams has appointed Citi’s global transaction services (GTS) business, acting through Citibank NA, as depositary for the company’s sponsored Level 1 American depositary receipt (ADR) programme. Debenhams’ ADRs trade in the over-the-counter (OTC) marketplace under the symbol DBHPL, with each ADR representing four ordinary shares. Debenhams’ ordinary shares are listed on the London Stock Exchange.
Dirk Jones, global head of securities and fund services client sales management at Citi, said: “We’re extremely pleased that Debenhams has chosen Citi as depositary for their sponsored Level 1 programme. We look forward to the opportunity to help Debenhams expand their global profile and increase their programme visibility via Citi’s unmatched worldwide distribution network.”