LONDON--(BUSINESS WIRE)--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.
“We are pleased that Faurecia has appointed Citi as depositary for its ADR programme”
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 www.citi.com/dr.
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.
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