Citi Appointed Depositary Bank for Niu Technologies' Sponsored ADR Program

Business Wire 23-Oct-2018 11:21 AM

Citi's Issuer Services business, acting through Citibank, N.A., has been appointed by Niu Technologies ("Niu"), a Cayman Islands exempted company with limited liability and operations in China, as the depositary bank for its American Depositary Shares (ADS) program.

Niu's program was established in connection with a $63.00 million initial public offering of its ADSs, priced at $9.00 per ADS. The ADSs are listed on the Nasdaq Global Market under the symbol "NIU." Each ADS represents two ordinary shares of Niu. As a single-listed ADS program, the underlying ordinary shares are not listed or publicly traded in the issuer's home market.

"Citi is committed to providing Niu and its investors with the highest quality ADR services," said Dirk Jones, Head of Global Issuer Services at Citi. "We are proud to be selected as the depositary bank for Niu's ADS program."

Citi is a leading provider of depositary receipt services. With depositary receipt programs in 61 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.

For more information about Citi's Depositary Receipt Services, please visit www.citi.com/dr.

Citi

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