Citi Global Transaction Services has been appointed by Valid Solues e Servios de Segurana em Meios de Pagamento e Identificao S.A. (Valid), as depositary its Level I American Depositary Receipt program.
This is an important milestone for Valid as they embark upon a Level I ADR program, says Dirk Jones, global head of Client Sales Management at Citi Securities and Fund Services. Were pleased Valid has chosen Citi as its depositary bank, and with our extensive IR experience and unmatched global distribution network, we look forward to helping them expand their global profile among a wide range of investors.
Valid is a Brazil-based company that offers payment, identification and telecommunications systems. Valids shares will trade in the OTC Marketplace under the symbol VSSPY. Each Valid American depositary share represents one ordinary share.
We are pleased and confident to have selected Citi as our ADR depositary, says Carlos Affonso, Valids CFO and investor relations officer. The purpose of our program is to increase access to Valids shares, especially by foreign investors, as well as to improve its market liquidity.
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