Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Centrais Elétricas Brasileiras S.A. (Eletrobras) as the successor depositary bank for its Level 2 American Depositary Receipt (ADR) programs.
Eletrobras’ ADRs are traded on the New York Stock Exchange under the symbol “EBR” for its common shares and “EBR.B” for its preferred shares. Each ADR represents one Eletrobras common or preferred share, respectively. The underlying common and preferred shares of Eletrobras are listed on the BM&FBOVESPA Stock Exchange.
“We are pleased to initiate a partnership with Citi to develop, improve and add value to our ADR programs,” said Armando Casado de Araujo, Chief Financial Officer of Eletrobras.
“We are proud to be appointed successor depositary bank by Eletrobras for its ADR programs,” said Dirk Jones, Head of Global Issuer Services at Citi. “With Citi’s global presence and investor relations expertise, we are confident our powerful platform will help to facilitate the continued success of the Eletrobras programs and provide its investors with the highest quality ADR services.”
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 61 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.
For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr.
Eletrobras
Centrais Elétricas Brasileiras SA, incorporated on June 11, 1962, is a Brazil-based holding company engaged in electric power generation, transmission, distribution and commercialization and is the largest company in the electricity sector in Latin America, as well as the Parent Company of 13 subsidiaries, a holding company – Eletropar – a research center – Cepel – and accounting for 50% of the capital Itaipu Binacional.
Citi
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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View source version on businesswire.com: http://www.businesswire.com/news/home/20170823005745/en/
Contacts:
Citi
Robert Julavits, 212-816-8020
robert.w.julavits@citi.com
