NEW YORK—(BUSINESS WIRE)-Citi today announced that Alibaba Group Holding Limited (“Alibaba Group”) has designated Citi`s issuer services business, which acts through citibank, N.A., as the custodian bank for its American Depositary Receipt (ADR) program. Alibaba Group`s ADRs, which began trading on September 19, 2014, are the largest deposit recruitment program in the history of the IPO. Alibaba and the sub-authors of its IPO have been sued in California`s superior court in a consolidated class action.  The complaint was filed in October 2015 on behalf of investors who had purchased U.S. deposit shares of Alibaba for alleged violation of the Securities Act.  In December 2018, subject to court authorization, Alibaba reached a settlement agreement in which it agreed to pay $75 million to settle the complaint.    In 2014, Alibaba and Yunfeng Capital, a private equity firm, founded AliHealth, when the two companies bought 54% of CITIC 21CN for HK$1.33 billion ($171 million).   It is listed on the Hong Kong Stock Exchange as SEHK: 241. It positions itself as a pharmaceutical e-commerce and medical services company. In the same year, Alibaba acquired Chinese card supplier AutoNavi.  In April 2015, the group also agreed to transfer its online B2C pharmacy Tmall Medical (yao). Tmall.com) to AliHealth.
The integration offers consumers a wide range of pharmaceutical and healthcare products available in China.  In 2015, Alibaba went on to found its Shanghai-based sports division AliSports following the merger of some of the parent company`s existing business units.  The activities of the new entity include television rights and digital sports, event organization, venue marketing, copyright, media, business development, gaming and ticketing.  AliSports ensured the exclusive sponsorship of the FIFA Club World Championship from 2015 to 2022.  The company announced in 2017 a Rugby Sevens champion tournament to be held in Shanghai for the highest prize ever offered in the sport.  Alibaba Group`s ADR program was launched by an IPO of $25.03 billion of 368,122,000 “ADSs”, which represents the common shares of Alibaba Group and was valued on September 18, 2014 at a price of 68$US by ADS. . .