Home Retail Group (HRG), a UK home and general merchandise retailer, has appointed Citi’s Global Transaction Services (GTS) business, acting through Citibank, as the depositary bank for its American depositary receipt (ADR) programme. HRG has designated Citi as the sponsor of what had previously been an unsponsored ADR programme.
HRG’s ADRs will trade in the OTCQX marketplace (as of 2 October 2009), the premier tier of the US over-the-counter (OTC) market, under the symbol HMRTY. The company’s ordinary shares are listed on the London Stock Exchange (LSE) under the code ‘HOME.L’. Each ADR is represented by four ordinary shares.
Richard Ashton, finance director of HRG, said: “We are pleased with the appointment of Citi as our new ADR depositary and are looking forward to developing a strong working relationship with them, which we are sure will benefit both Home Retail Group and its ADR holders.”
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