LONDON--(BUSINESS WIRE)--Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by IMI plc (IMI), a global engineering solutions group, as depositary for its sponsored Level 1 American Depositary Receipt (ADR) programme. IMI’s ADR programme trades in the OTC marketplace under the symbol IMIAY, with each ADR comprised of 2 ordinary shares. IMI’s ordinary shares are listed on the London Stock Exchange.
Will Shaw, Investor Relations Director, IMI plc said, “The US is an important market for the Group where we see significant opportunity to grow our investor base. Our sponsorship of this ADR programme and partnership with Citi will help us realise our ambitions to expand our investor presence in the US capital markets.”
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management said, “By establishing a sponsored level 1 ADR programme, IMI has signaled its commitment to securing further investment from US investors. We are very pleased to have been selected as depositary bank for IMI’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.
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 fourth quarter of 2010, it held on average $353 billion in liability balances and $12.6 trillion in assets under custody.
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About IMI plc
IMI plc is a global engineering solutions group focused on the precise control and movement of fluids in critical applications. It works with leading international companies in over 50 countries to deliver innovative engineering solutions, built around valves and actuators, to address global trends such as clean energy, energy efficiency, healthcare and increasing automation. Its shares are listed on the London Stock Exchange and it is a member of the FTSE100. Further information is available at www.imiplc.com.
About Citi
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through 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.