Citi Appointed Depositary for Brookfield Incorporações S.A.’s Level 1 ADR Program
New York - November 22, 2010 – Citi today announced that its Global Transaction Services business, acting through Citibank N.A., has been appointed by Brookfield Incorporações S.A. (Brookfield), a Brazil based company, as depositary bank for its sponsored Level 1 American Depositary Receipt (ADR) program. Brookfield’s ADRs will trade in the OTC marketplace, under the symbol BRRSY. Brookfield’s ordinary shares are listed on the BM&FBovespa Stock Exchange. Each ADR represents 2 ordinary shares.
"The ADR program is a great opportunity to improve stock liquidity, as well as increasing the company’s visibility in order to attract foreign investors, adding therefore more value for shareholders," said Nicholas Reade, CEO of Brookfield Incorporações. "Being able to rely on Citi’s Global Transaction Services experience is a factor that will contribute positively to the positioning of the company abroad."
"Brazil is an important market for us and we’re extremely pleased that Brookfield has chosen Citi as depositary for their ADR program," said Dirk Jones, Global Head of Financial Institutions Client Sales Management, with Citi’s Global Transaction Services. "By leveraging our unparalleled global distribution network and liquidity management services, we’re confident that we can help Brookfield increase their program’s visibility in the market."
For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
Through its Securities and Fund Services business, Citi offers issuers of debt and equity, globally consistent capabilities, and local expertise, backed by over 100 years of serving clients in markets across the globe. As a result, Citi is able to deliver specialized solutions for complex capital market transactions across more than 70 countries.
Global Transaction Services, a division of Citigroup’s Institutional Clients Group, offers integrated cash management, trade, and securities and fund services to multinational corporations, financial institutions and public sector organizations around the world. With a network that spans more than 100 countries, Citigroup’s Global Transaction Services supports over 65,000 clients. As of the third quarter of 2010, it held on average $340 billion in liability balances and $12.4 trillion in assets under custody.
About Brookfield Incorporações S.A.
Brookfield Incorporações S.A. (BM&FBovespa: BISA3) is one of the leading integrated developers in Brazil’s real estate market, with operations that include lot acquisitions, planning, development, construction of own and third-party projects, sales and customer service. Brookfield Incorporações operates in the low, mid-low, middle, mid-high and high income residential segments and also in the office segment. The Company has a team of highly-skilled personnel, known for their capacity to develop innovative projects and delivering high-quality products and services, providing its clients with a complete range of solutions. Brookfield Incorporações has a portfolio of more than 11 million square meters (including both built area and area under development), a land bank strategically located in the states of São Paulo, Rio de Janeiro, Goiás, Mato Grosso, Paraná, Santa Catarina, Ceará and the Federal District, and 3,800 employees.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries. Through its two operating units, Citicorp and Citi Holdings, 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 or www.citi.com.