• Slice of Finance
  • Posts
  • Citi Appointed as Depositary Bank for NIP Group’s ADR Program

Citi Appointed as Depositary Bank for NIP Group’s ADR Program

Author

Slice of Finance Team
12 Aug

Key Highlights:

  • Citi Issuer Services appointed as depositary bank for NIP Group’s ADR program.

  • NIP Group listed on Nasdaq with ticker “NIPG” following an IPO priced at US$9.00 per ADS.

  • NIP Group is a leading Chinese esports organization with a global presence.

Source (Business Wire)

Notable Quotes:

❝

“We are excited to partner with Citi on our ADR program as we enter this new chapter of our growth. The IPO represents a significant milestone for NIP and the broader esports industry.”

Mario Ho, Chairman and Co-CEO at NIP Group
❝

“Citi is committed to providing NIP and its investors with the highest quality ADR services. Our selection as depositary bank for the company’s ADR program underscores the depth and breadth of Citi’s cross-border capabilities.”

Dirk Jones, Head of Issuer Services at Citi

Our Take:

Citi’s appointment as the depositary bank for NIP Group’s ADR program highlights the growing integration of esports into the global financial ecosystem. NIP Group’s strategic decision to list on Nasdaq further emphasizes the expanding influence of esports beyond traditional entertainment markets, paving the way for increased cross-border investments in the sector. Citi's role underscores its robust cross-border service capabilities, positioning it as a key partner for companies like NIP looking to scale their global operations.