Deutsche Bank has been appointed as depositary bank for the Level I American Depositary Receipt (ADR) program of Brazil-based BB Seguridade Participações, an insurance and brokerage holding company controlled by Banco do Brasil.
BB Seguridade will trade OTC under the symbol BBSEY and since 2013 has been trading under the ticker BBSE3 on BM&FBOVESPA’s Novo Mercado, a listing segment of the Brazilian exchange designed for shares issued by companies that voluntarily undertake additional corporate governance practices and transparency requirements not required by law.
Through its wholly-owned broker, BB Corretora, BB Seguridade distributes a wide variety of insurance related products via Banco do Brasil’s distribution network.
“We are delighted to be appointed as the depositary bank for BB Seguridade’s ADR program. This appointment demonstrates Deutsche Bank’s continued commitment to its clients in Latin America. We look forward to working with BB Seguridade to enhance its ADR program visibility and broaden its investor base,” says Jose Sicilia, global head of Global Equity Services at Deutsche Bank.
Brazilian Insurer Appoints Deutsche Bank for ADR Program
Deutsche Bank has been appointed as depositary bank for the Level I American Depositary Receipt (ADR) program of Brazil-based BB Seguridade Participações, an insurance and brokerage holding company controlled by Banco do Brasil.