Citi Named Depositary Bank for Agilyx ADR Program

In Short

• Citi Issuer Services has been appointed depositary bank for Agilyx ASA’s sponsored Level 1 ADR program.
• The ADRs trade on the U.S. over-the-counter market under the symbol AGYXY.
• The setup is meant to make it easier for U.S. investors to buy Agilyx exposure and broaden the company’s shareholder base.

What Happened: Citi Depositary Bank Role For Agilyx ADRs

Citi said its Issuer Services unit, acting through Citibank N.A., has been appointed as depositary bank for Agilyx ASA’s new sponsored Level 1 American Depositary Receipt program.

An ADR is a U.S.-traded certificate that represents shares in a non-U.S. company. It is a wrapper that helps investors buy foreign shares using local market plumbing. “Level 1” ADRs typically trade over the counter (OTC), meaning they are traded through broker-dealer networks rather than a major exchange.

Agilyx’s ADRs trade on the OTC Market under AGYXY. Each American Depositary Share represents 10 ordinary shares. Agilyx’s underlying ordinary shares remain listed on the Oslo Stock Exchange under the ticker AGLX.

Agilyx CEO Ranjeet Bhatia said U.S. investor interest in the company and the European recycling sector has increased. He framed the sponsored ADR as a step to make U.S. investing “materially easier.” Citi’s Issuer Services head Dirk Jones said the bank will support the company with depositary receipt services and cross-border capital markets access.

Why It Matters: Easier Cross-Border Access For Public Market Investors

For Agilyx, a sponsored Level 1 ADR can reduce friction for U.S. investors who do not want to trade directly on the Oslo market. It can also improve visibility with global investors, even without a full U.S. exchange listing.

For Citi, the appointment adds another depositary receipt mandate to its broader custody and capital markets services footprint. It also signals continued demand for simple cross-border structures as investors look for exposure to themes like recycling and circular economy infrastructure.