Solvay appoints Citi as Depositary Bank for its ADR Programme
October 3, 2016 - Solvay has appointed Citi, acting through Citibank N.A., as depositary bank for its Level 1 American Depositary Receipt (ADR) programme, which trades on the US over-the-counter (OTC) marketplace under the symbol “SOLVY”. Each ADR represents 1/10 of an ordinary share. Solvay’s ordinary shares are listed and trade on Euronext Brussels and Paris under the symbol “SOLB”.
Solvay’s recent acquisition of US-based Cytec has established the Group as the world’s second largest player in aerospace composite materials, boosting our customized solution offerings in lightweighting and supporting our ambition to lead in sustainable chemistry. Furthermore, Cytec has strengthened Solvay’s presence in the US and we look forward to leverage Citi’s large network to enhance our visibility and access to investors in the region.
“Citi is delighted to be appointed by Solvay as depositary bank for its Level 1 ADR programme,” said Dirk Jones, Global Head of Issuer Services, at Citi. “We look forward to working closely with Solvay, leveraging our global equity distribution network and providing best-in-class service to assist them in fulfilling their goals.
An international chemical and advanced materials company, Solvay assists its customers in innovating, developing and delivering high-value, sustainable products and solutions which consume less energy and reduce CO2 emissions, optimize the use of resources and improve the quality of life. Solvay serves diversified global end markets, including automotive and aerospace, consumer goods and healthcare, energy and environment, electricity and electronics, building and construction as well as industrial applications. Solvay is headquartered in Brussels with about 30,900 employees spread across 53 countries. It generated pro forma net sales of € 12.4 bn in 2015, with 90% made from activities where it ranks among the world’s top 3 players.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through Citicorp and Citi Holdings, 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.