Citi Appointed as Depositary Bank for Phoenix Tree Holdings Limited’s Sponsored ADR Program
February 1, 20203 min
Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Phoenix Tree Holdings Limited (“Danke”), one of the largest and fastest growing co-living platforms redefining China’s residential rental market through technology, as the depositary bank for its American Depositary Receipts (ADR) program. Danke’s program was established in connection with a $129,600,000 initial public offering of its ADRs (exclusive of the over-allotment option), priced at $13.50 per ADR. The ADRs are listed on the New...
