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Article: Citibank Launches NYSE Listed ADR Program For ABB Ltd.; Holding Company Headquartered in Switzerland Establishes Exchange-Listed Program to Expand U.S. Investor Base.
- Article from:
- Business Wire
- Article date:
- April 6, 2001
CopyrightCOPYRIGHT 2001 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
NEW YORK--(BUSINESS WIRE)--April 6, 2001
Citibank Depositary Receipt Services announced today the establishment of a NYSE listed American Depositary Receipt (ADR) program for ABB Ltd. The American Depositary Shares (ADSs) begin trading this morning on the NYSE under the symbol "ABB" (CUSIP 000375204). Citibank will act as depositary. ABB Ltd. is a Zurich, Switzerland, based holding company.
The underlying registered shares trade on the Swiss exchange (SWX). The ratio of ADSs to registered shares is one to four. ABB Ltd. ADSs will continue to be available through a Citibank sponsored Rule 144A (RADR) facility. A procedure is in ...