Citi Appointed Depositary for Valid’s Level 1 Sponsored ADR Program
New York - June 7, 2011 – Citi today announced that its Global Transaction Services business, acting through Citibank, N.A., has been appointed by Valid Soluções e Serviços de Segurança em Meios de Pagamento e Identificação S.A. ("Valid"), a Brazil-based company which offers payment, identification and telecommunications systems, as depositary for Valid’s Level I American Depositary Receipt program. Valid’s shares will trade in the OTC Marketplace under the symbol VSSPY. Each Valid American depositary share represents one ordinary share.
Carlos Affonso, Valid’s CFO and Investor Relations Officer, commented: "We are pleased and confident to have selected Citi as our ADR depositary. The purpose of our program is to increase access to Valid’s shares, especially by foreign investors, as well as to improve its market liquidity."
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management at Citi, said, "This is an important milestone for Valid as they embark upon a Level I ADR program. We’re 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."
For more information on Citi’s Depositary Receipt Services, visit www.citi.com/dr.
Global Transaction Services, a division of Citi’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 first quarter of 2011, it held on average $355 billion in liability balances and over $13 trillion in assets under custody.
Valid is a Brazilian leader in means of payment, telecommunications and identification solutions and is part of the lives of millions of people, although many are not aware of it. Behind a simple mobile phone call or credit card transaction, there are people, processes and state-of-the-art technology making sure everything runs efficiently and securely. These are Valid’s solutions, which meet the highest expectations of their clients’ clients. Uniting social commitment and commitment to its customers, Valid, a 100% Brazilian company, is expanding its operations throughout the world each year. Present in 18 Brazilian states, it has consolidated its brand in Argentina and Spain and produces driving licenses for millions of Brazilians in partnership with the government. Very shortly, Valid’s digital certification will also be available to final consumers with the same quality afforded to large organizations and public and private institutions. Valid’s ability to satisfy all the demands of information security has made its name synonymous with credibility.
All of Valid’s work has been validated by SA8000 and FSC - Forest Stewardship Council social and environmental certifications.
Citi, the leading global financial services company, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Through 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.