J.P. Morgan has been appointed depositary bank by Brazil-based WEG SA, one of the world’s most successful industrial equipment companies, for its American Depositary Receipt (ADR) program.
Candice Teruszkin, DR sales executive for Latin America at J.P. Morgan, said: “We are thrilled that WEG SA has chosen J.P. Morgan for its ADR program. Our customized DR services will help WEG SA meet their goals to increase visibility within the U.S investor community and strengthen their global market presence.”
WEG SA joins a line-up of leading Latin American companies for which J.P. Morgan acts as depositary. J.P. Morgan manages more than 20 ADR programs in Brazil, including: Banco Santander Brasil S.A., Companhia Siderurgica Nacional (CSN), Eletrobrs, Embraer (Empresa Brasileira de Aeronutica S.A.), Hypermercas S.A., Lupatech S.A., Petroleo Brasileiro SA – Petrobras, TAM, Tempo Participaes S.A., TIM Participaes S.A. and Vale S.A.
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