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.”
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.