Citibank Launches NYSE-Listed ADR Program for Woori Finance Holdings Co., Ltd.
29 September 2003, New York - Citibank Depositary Receipt Services announced today that it has established an American Depositary Receipt (ADR) Program for Woori Finance Holdings Co., Ltd., one of Korea's premier integrated financial services companies. The American Depositary Shares (ADSs) are now listed on the New York Stock Exchange (NYSE) under the symbol WF (CUSIP # 981063 10 0). Each ADS represents three shares of common stock, which trade on the Korea Stock Exchange.
"We look forward to fully supporting Woori Finance Holdings as it gains increased visibility and builds investor interest in the United States," said Sanjeev Nanavati, Managing Director of Citibank Depositary Receipt Services.
"Since Woori Finance Holdings was founded, one of our top priorities has been to set the stage for the listing of our company in overseas markets," said Byung-Chul Yoon, Chairman and Chief Executive Officer. "Citibank's support has been exemplary as we expand our company's presence in the U.S. investment community through this NYSE listing."
Woori Finance Holdings Co., Ltd., offers a broad range of financial
products and services, including consumer banking and credit, corporate
and investment banking, insurance, securities brokerage and asset
management. The company was set up by the Korean government in April
2001 through the Korea Development Insurance Corporation (KDIC)
with the mission of creating a new management model based on market
principles that would make its financial entities healthy and profitable.
Woori Finance Group has been highly successful in its mission and
this has led to the successful listing on the NYSE. As one of Korea's
premier integrated financial services companies, Woori Finance Holdings
Co., Ltd., offers its 17 million customers one of the most comprehensive
range of financial services available. The initial stages of privatization
of the company occurred in 2002, and it is expected to be fully
privatized in the near future. For further information visit www.woorifg.com.
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About Citibank Depositary Receipt Services
Citibank Depositary Receipt Services leads the market in bringing
quality issuers to the U.S. market and promoting American Depositary
Receipts as an effective capital markets tool. Citibank began offering
ADRs in 1928 and today is widely recognized for providing non-U.S.
companies with a gateway to the world of resources Citigroup has
to offer. In addition, our financial strength and global presence
provides clients with access to Citigroup's on-the-ground presence
and in-depth knowledge of 90 local markets. For further information
about ADRs, visit www.citigroup.com/adr.
Depositary Receipt Services is a product area within Citigroup®
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