Faurecia, the world’s sixth largest automotive equipment supplier, today announced that it has appointed Citi as depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) program. Faurecia’s ADR program trades in the US over-the-counter (OTC) market under the ticker FURCY, with each ordinary share – listed on the NYSE Euronext Paris stock exchange – comprised of two ADRs.
Yann Delabrière, Chairman and Chief Executive Officer of Faurecia, said, “Faurecia is experiencing strong growth in the dynamic North American automotive market, where we are targeting $7 billion sales in 2016 and a Top 5 supplier position in the short term. Faurecia is committed to developing a strong shareholder base in the US and looks forward to working closely with Citi to gain access to ADR investors.”
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