Fletcher Building Limited (“Fletcher Building”) announced today that it has appointed Citibank N.A. (“Citi”) as depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) programme.
Fletcher Building's ADRs will trade in the over- the-counter (OTC) marketplace, under the symbol FCREY. Fletcher's ordinary shares are listed on the New Zealand Stock Exchange ("NZX") and the Australian Stock Exchange ("ASX"). Each ADR represents two ordinary shares.
Fletcher Building's chief financial officer Bill Roest said "the ADR programme will assist Fletcher Building in broadening its shareholder base internationally. We are delighted to have appointed Citi as our depositary bank, and know that their expertise with ADRs will help ensure the success of the programme."
Dirk Jones, Global Head of Securities Funds Services Client Sales Management, said "We are very pleased to have been appointed successor depositary for Fletcher's sponsored ADR programme. By leveraging our global distribution network and investor relations expertise, we're confident that we can help Fletcher increase its programme in the market."
Information on Citi's Depositary Receipt Services can be found on: www.citi.com/dr.
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