JPMorgan Worldwide Securities Services has been appointed successor depositary bank for the common and preferred share American Depositary Receipt (ADR) programs for Petrobras – Petroleo Brasileiro.
Petrobras is a Brazilian government-controlled company engaged in the exploration, refining, production and sale of petroleum and its by-products. It is the country’s largest integrated energy company with a market capitalisation of approximately USD108 billion. Each common share Petrobras American depositary share represents four common shares, and each preferred share Petrobras American depositary share (CUSIP 716 54V 10 1) represents four preferred shares. The common and preferred shares trade on the Sao Paulo Stock Exchange, BOVESPA, and both American depositary shares trade on the New York Stock Exchange. Petrobras shares are also traded on LATIBEX (Madrid) and the BCBA (Buenos Aires) Exchanges.
“We at JPMorgan are delighted to work with Petrobras, a leading company in Latin America that also has a renowned global presence,” says Yxa Bazn, the head of JPMorgan Latin America ADR group. “This appointment helps position JPMorgan as the number one ADR depositary bank for Latin American issuers.”