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For Immediate Release Citigroup Inc. (NYSE: C)

Citi Appointed as Depositary Bank for the GDR Program of Will Semiconductor Co., Ltd. Shanghai

November 13, 2023

NEW YORK - Citi’s Issuer Services, acting through Citibank, N.A., has been appointed by Will Semiconductor Co., Ltd. Shanghai (“Will Semiconductor”) to act as the Depositary Bank for its Global Depositary Receipt (“GDR”) Program.

Will Semiconductor’s GDR Program was established in connection with a US$445 million offering of its GDRs, priced at US$14.35 per GDR. The GDRs are listed on the SIX Swiss Exchange under the symbol “WILL”. Each GDR represents one (1) A share. Will Semiconductor’s A shares are listed and traded on the Shanghai Stock Exchange under the stock code 603501.

“Citi is pleased to be the Depositary Bank for Will Semiconductor, supporting their GDR program. We are proud to continue as the lead depositary bank for companies listed via the China Connect scheme, on both the London Stock Exchange and the SIX Swiss Exchange” said Dirk Jones, Global Head of Citi’s Issuer Services, “Citi’s cross-regional capabilities, global network, the ability to enhance investor access, and experience facilitating the previous Connect GDR Programs serves the issuer well. We expect to see more participation via the Connect Scheme.”

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. 


About Citi

Citi is a preeminent banking partner for institutions with cross-border needs, a global leader in wealth management and a valued personal bank in its home market of the United States. Citi does business in nearly 160 countries and jurisdictions, providing corporations, governments, investors, institutions and individuals with a broad range of financial products and services.

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Media Contacts

Nina Das: +1 (212) 816-9267, Nina.Das@citi.com

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