Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Korea Electric Power Corporation (“KEPCO”), a Korea-based electric utility company, as the depositary bank for its American Depositary Receipt (ADR) program.
KEPCO’s ADRs are traded on the New York Stock Exchange under the symbol “KEP,” and its ordinary shares are traded on the Korea Stock Exchange. Two KEPCO ADRs represent one ordinary share.
“We are delighted to appoint Citi as the successor depositary bank for our NYSE-listed ADR program,” KEPCO said in a statement. “KEPCO has a long history working with U.S. investors. Through our partnership with Citi, we look forward to further growing our ADR program and expanding our outreach to the global investment community.”
“KEPCO’s decision to select Citi as its depositary bank is a reflection of our strong track record and experience in supporting Korean ADR issuers,” said Dirk Jones, Head of Global Issuer Services at Citi. “We are confident that we can leverage the breadth of Citi’s global presence and investor relations expertise to assist in raising KEPCO’s profile.”Citi is a leading provider of Depositary Receipt Services. With Depositary Receipt programs in 55 markets, Citi leverages its global network to help companies connect to new markets and raise capital worldwide. For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr For more information about KEPCO, please visit http://cyber.kepco.co.kr/kepco/EN/main.do Korea Electric Power Corporation Korea Electric Power Corporation, an integrated electric utility company, generates, transmits, and distributes electricity in Korea. It operates through Transmission and distribution, Electric power generation (Nuclear), Electric power generation (Non-nuclear), and Other segments. The company generates power from nuclear, coal, oil, liquefied natural gas, hydro, wind, solar, and biogas sources. As of December 31, 2013, it had a total of 598 generation units, including nuclear, thermal, hydroelectric, and internal combustion units with a total installed generation capacity of 70,845 megawatts. The company’s transmission system consisted of approximately 32,249 circuit kilometers of lines of 765 kilovolts and others, including high voltage direct current lines, as well as 790 substations with an installed transformer capacity of 279,520 megavolt-amperes; and distribution system included approximately 105,741 megavolt-amperes of transformer capacity and 8,698,776 units of support with a line length of 449,684 circuit kilometers. It provides electricity to industrial, commercial, residential, educational, and agricultural customers, as well as for street lighting and overnight power usage. The company was founded in 1898 and is headquartered in Seoul, South Korea.