NEW YORK--(BUSINESS WIRE)--Citi�s Issuer Services, acting through Citibank, N.A., has been appointed by Zhangmen Education Inc. (�Zhangmen�), a leading online education company in China focused on providing personalized online courses to students between the ages of 3 and 18, as the depositary bank for its American Depositary Shares (ADS) program.
Zhangmen�s program was established in connection with an approximately $48 million initial public offering of its ADSs (inclusive of the over-allotment option), priced at $11.50 per ADS. The ADSs are listed on the New York Stock Exchange under the symbol �ZME�. Each ADS represents 9 Class A ordinary shares of Zhangmen. 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 Zhangmen and its investors with the highest quality ADS services,� said Dirk Jones, Head of Global Issuer Services at Citi. �Our selection as depositary bank for Zhangmen�s ADS program underscores our global capabilities and industry leading position in this space.�
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 67 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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Contacts
Patricia Tuma
Citi Global Public Affairs
[email protected]
