Economy hotel chain, 7 Days Group, has appointed Citigroup’s Global Transaction Services business as its depositary bank, Business Wire reports. The bank will be a depository for its new New York Stock Exchange-listed American Depositary Receipt (ADR) program.

Global Transaction Services, which is a division of Citi’s Institutional Clients Group, has $314 billion in liability balances and $11.8 trillion in assets under custody. 7 Days’ ADR program was established through a $111.1 million offering, each ADR representing three ordinary shares.

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