IMI’s ADR program trades in the OTC marketplace under the symbol IMIAY, with each ADR comprised of two ordinary shares. IMI’s ordinary shares are listed on the London Stock Exchange.
Global Transaction Services, a division of Citi’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world.
IMI investor relations director Will Shaw said the US is an important market for the group where we see significant opportunity to grow the investor base.
"Our sponsorship of this ADR program and partnership with Citi will help us realize our ambitions to expand our investor presence in the US capital markets," Shaw said.
Citi Global Transaction Services business global head of securities and fund services client sales management Dirk Jones said by establishing a sponsored level 1 ADR programme, IMI has signaled its commitment to securing further investment from US investors.
"We are very pleased to have been selected as depositary bank for IMI’s ADR program, and through our outstanding IR initiatives, we are confident that we can assist them in fulfilling the goals that they have set for the program," Jones said.
