Citi has furthered its footprint in the global capital markets by becoming the Depositary Bank for Vicore Pharma Holding AB’s ADR Program. “The appointment is a further important step towards helping to support international investment opportunities.” It also opens up new opportunities for investors who want to gain exposure to leading edge biotechnology companies through American Depositary Receipts.
Citibank N.A. will be the depositary for the sponsored Level 2 American Depositary Receipt (ADR) program for Vicore Pharma Holding AB through Citi Issuer Services. The clinical-stage biopharmaceutical company is focused on the development of a new class of disease modifying therapies. These therapies are aimed at respiratory and fibrotic diseases including idiopathic pulmonary fibrosis (IPF). This means that the partnership strengthens Vicore Pharma’s ability to reach investors in international financial markets.
The ADRs of Vicore Pharma are listed on the Nasdaq Capital Market under the symbol VCRE. Also, each American Depositary Share (ADS) represents ten ordinary shares of the company. The company’s ordinary shares will continue to be listed and traded on Nasdaq Stockholm Stock Exchange under the symbol VICO. This means that the ADR structure enables U.S. investors to invest in the company’s shares on a familiar trading platform, and yet have its main listing in Sweden.
Citi Extends Global Depositary Receipt Services
The appointment continues to bolster Citi’s leadership in the depositary receipt, cross-border investment and capital markets spaces. In addition, the bank offers issuers comprehensive solutions to access international investors and to facilitate efficient market access.
Commenting on the appointment, Dirk Jones, Head of Issuer Services at Citi, said: “We are committed to supporting Vicore Pharma with high quality services through our industry-leading ADR solutions. Our deep capital markets expertise and extensive global network enable us to facilitate seamless access to global capital markets for issuers like Vicore Pharma.”
The collaboration highlights Citi’s commitment to delivering reliable depositary services for companies seeking broader market visibility. In addition, the bank’s global infrastructure enables issuers to connect with institutional and retail investors across multiple regions.
Currently, Citi Issuer Services manages depositary receipt programs across more than 65 markets, covering both equity and fixed-income products. Therefore, the organization continues to play a significant role in supporting issuers, intermediaries, and investors through its extensive international banking network. By combining global expertise with established capital market capabilities. Citi helps companies like Vicore Pharma strengthen cross-border investment opportunities while improving access to worldwide financial markets.
Explore Finance Tech News for the latest innovations in financial technologies and expert insights shaping the future of digital finance!
News Source: Businesswire.com
