Citi, acting through Citibank, has been appointed by Skandinaviska Enskilda Banken AB as depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) programme.
SEB’s ADR programme trades in the US over-the-counter (OTC) market, under the symbol "SKVKY". Each ADR represents 1 ordinary share. SEB’s ordinary shares are listed and trade on the NASDAQ OMX Stockholm under the symbol "SEB A".
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Ulf Grunnesjö, head of Investor Relations, SEB, said, "SEB has a substantial overseas investor base and we are excited about the prospect of working with Citi to gain further access to U.S. investors through the ADR programme."
Dirk Jones, global head of Client Sales Management at Citi said, "By establishing a sponsored level 1 ADR programme, SEB has signaled its commitment to securing further investment from US investors. We are very pleased to have been selected as depositary bank by SEB, 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."
