Stock Track | NIP Group Shares Surge After Citi Appointed as ADR Depositary Bank

Stock Track08-01

Shares of NIP Group Inc. (NASDAQ: NIPG), a leading Chinese esports organization, surged 7.31% in intraday trading on Wednesday, following the news that Citigroup has been appointed as the depositary bank for the company's American Depositary Receipt (ADR) program.

NIP Group, which recently went public on the Nasdaq on July 26, 2024, with an initial public offering price of $9.00 per ADS, has seen its stock price rally after the announcement of its partnership with Citi for its ADR program. The appointment of a reputable global bank like Citi as the depositary bank is expected to enhance the visibility and accessibility of NIP Group's ADRs for international investors.

Mario Ho, Chairman and Co-CEO of NIP Group, expressed excitement about the partnership, stating, "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." The ADR program is expected to facilitate cross-border capital market access and attract a broader investor base for NIP Group.

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(NASDAQ: NIPG), a leading Chinese esports organization, surged 7.31% in intraday trading on Wednesday, following the news that Citigroup has been appointed as the depositary ...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"NIPG","symbol_name":"星竞威武","start_time":0,"source_url":"","article_id":"1197564370","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1197564370","pubTimestamp":1722519620,"sourceInfo":null,"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of NIP Group Inc. , a leading Chinese esports organization, surged 7.31% in intraday trading on Wednesday, following the news that Citigroup has been appointed as the depositary bank for the company's American Depositary Receipt  program.NIP Group, which recently went public on the Nasdaq on July 26, 2024, with an initial public offering price of $9.00 per ADS, has seen its stock price rally after the announcement of its partnership with Citi for its ADR program. 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