Nihon Keizai: Citigroup to get a listing on Tokyo Stock Exchange

Nihon Keizai: Citigroup to get a listing on Tokyo Stock Exchange

Nihon Keizai (Nikkei) business daily has reported in a news item that the Citigroup Inc. is planning to get a listing on the Tokyo Stock Exchange later this year.

Citigroup is the largest U.S. bank and if they get a listing on the TSE, it could make it easier for them to buy Japanese firms through stock swaps.

The news report cited an unnamed Citigroup executive in New York saying that the company has already started preparations for the listing.

Citigroup believes that it would be tough for them to expand their operations in the country without getting listed on the main exchange in Japan.

Nikkei added that if the bank lists its DRs in Tokyo, investors in Japan will be able to indirectly buy and sell the firm’s shares in the form of JDRs.