Citi Appointed Depositary for Faurecia S.A.'s Sponsored Level 1 ADR
LONDON -- November 29, 2012
Citi today announced that its Citi Transaction Services business, acting
through Citibank N.A., has been appointed by Faurecia S.A. (Faurecia), the
world’s sixth largest automotive equipment supplier, as depositary bank for
its sponsored Level 1 American Depositary Receipt (ADR) programme. Faurecia’s
ADR programme trades in the US over-the-counter (OTC) market under the symbol
“FURCY”, with each ordinary share comprised of 2 ADRs. Faurecia’s ordinary
shares are listed on the NYSE Euronext Paris stock exchange.
Yann Delabrière, Chairman and Chief Executive Officer of Faurecia, said,
"Faurecia is experiencing strong growth in the dynamic North American
automotive market, where we are targeting $7 billion sales in 2016 and a Top 5
supplier position in the short term. Faurecia is committed to developing a
strong shareholder base in the US and looks forward to working closely with
Citi to gain access to ADR investors."
“We are pleased that Faurecia has appointed Citi as depositary for its ADR
programme,” said Dirk Jones, Global Head of Securities and Fund Services
Client Sales Management at Citi. “Citi has a powerful platform to help
Faurecia grow their programme. Our Depositary Receipts team will leverage
their knowledge of ADR investors and Citi’s US equity distribution network to
assist Faurecia in reaching out to new investors.“
Citi 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 95
countries, Citi’s Transaction Services supports over 65,000 clients. As of the
third quarter of 2012, it held on average $415 billion in liability balances
and $12.8 trillion in assets under custody.
For more information on Citi’s Depositary Receipt Services, visit
About Faurecia S.A.
Faurecia is the world's sixth-largest automotive equipment supplier with four
key Business Groups: Automotive Seating, Emissions Control Technologies,
Interior Systems and Automotive Exteriors. In 2011, the Group posted total
sales of €16.2 billion ($22.5 billion). At December 31, 2011, Faurecia
employed 84,000 people in 33 countries at 270 sites and 40 R&D centers.
Faurecia is listed on the NYSE Euronext Paris stock exchange. For more
information, visit www.faurecia.com.
Citi, the leading global financial services company, 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.
Additional information may be found at www.citigroup.com | Twitter: @Citi |
YouTube: www.youtube.com/citi | Blog: http://new.citi.com | Facebook:
www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi
Citi Media Contact:
Faurecia Media Contact:
Olivier Le Friec
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