Citi Appointed Successor Depositary Bank for CPFL Energia S.A.’s Sponsored ADR Program
08 Enero 2015 - 9:04AM
Business Wire
Citi, acting through Citibank N.A., has been appointed by CPFL
Energia S.A. (“CPFL”), the largest private integrated utility
company in Brazil, as the successor depositary bank for its
American Depositary Receipt (“ADR”) program.
CPFL’s ADRs are traded on the New York Stock Exchange under the
symbol “CPL,” and its ordinary shares are traded on the
BM&FBOVESPA Stock Exchange in Brazil. One CPFL ADR represents
two ordinary shares.
“Our relationship with Citi has broadened and evolved over the
years, and we are delighted to now also have Citi as our depositary
bank,” said Leandro Cappa, Investor Relations Officer at CPFL. “We
look forward to working closely with Citi and leveraging its
value-added resources, vast Latin American and global presence,
commitment to equities, and investor relations expertise to enhance
our ADR holder base.”
“We are delighted to be appointed successor depositary bank for
CPFL Energia’s ADR program,” said Dirk Jones, Head of Global Issuer
Services at Citi. “With Citi’s investor relations expertise and
unparalleled global presence, we are confident that our powerful
platform will provide CPFL Energia with the opportunity to continue
to expand its investor base worldwide and maximize the visibility
of its ADR program.”
Citi is a leading provider of Depositary Receipt Services. With
Depositary Receipt programs in 55 markets, Citi leverages its
global network to help companies connect to new markets and raise
capital worldwide.
For more information about Citi’s Depositary Receipt Services,
please visit www.citi.com/dr.
CPFL
CPFL is a holding company in the Brazilian electricity industry,
operating through its subsidiaries in the generation, distribution,
commercialization and services businesses, with revenues of R$ 18.4
billion (US$ 6.9 billion) in 2013 and market capitalization of R$
17.5 billion (US$ 6.6 billion), as of December, 12th, 2014. It
completed this year 102 years of operations. From its inception in
the interior of Brazil’s industrial heartland, São Paulo state, it
has grown to become the largest privately-owned electricity group
in the country. Ever since its IPO in 2004, CPFL has participated
in the listing tiers of the São Paulo Stock Exchange
(BM&FBOVESPA) and the New York Stock Exchange (NYSE) with the
most stringent requirements for corporate governance: the Novo
Mercado and ADR level III, respectively. CPFL Energia is a market
leader in Brazil in the distribution segment, with market share of
13%. During the year ending December 31, 2013, CPFL Energia’s sales
in its distribution companies’ concession areas reached 58,463 GWh,
distributing energy to 7.5 million customers, located mainly in
economic and industrial centers in Brazil, in the states of São
Paulo and Rio Grande do Sul, as well as in some municipalities in
the states of Paraná and Minas Gerais. CPFL Energia also holds a 2%
market share in the Brazilian generation segment, with an installed
capacity of 2,860 MW and has operations in the Commercialization
and Service businesses.
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.
Additional information may be found at www.citigroup.com |
Twitter: @Citi | YouTube: www.youtube.com/citi | Blog:
http://blog.citigroup.com | Facebook: www.facebook.com/citi |
LinkedIn: www.linkedin.com/company/citi
Media:CitiRobert Julavits,
212-816-8020robert.w.julavits@citi.com
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