Citi Appointed Depositary for Estácio’s Level 1 Sponsored ADR Program
New York - June 17, 2011 – Citi today announced that its Global Transaction Services business, acting through Citibank, N.A., has been appointed by Estácio Participações S. A. ("Estácio"), a Brazil-based company, as depositary for Estácio’s Level I American Depositary Receipt program. Estácio’s shares will trade in the OTC Marketplace under the symbol ECPCY. Each Estácio American depositary share represents one ordinary share.
"Estácio Participações is delighted to launch its ADR Program and to have Citi as our depositary. We are confident that this ADR Program will help us to expose our company and its strategies in a better way, to reinforce our commitment to generate value to our shareholders, and to broaden our investor base world-wide," said Rogerio Melzi, Chief Financial Officer and Investor Relations Officer of Estacio Participações.
Dirk Jones, Global Head of Securities and Fund Services Client Sales Management at Citi, said, "Brazil is an important market for us and the Citi DR team has extensive local market experience bringing Brazil based issuers to the capital markets. We’re pleased to have been selected as Estácio’s depositary bank, and look forward to helping them expand their global profile with 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.
Estácio Participações is one of the largest Brazilian private higher-education groups, in terms of number of students, with a nationwide presence in Brazil’s major cities. Its student base has a highly diversified profile and includes mostly young working adults from the middle and lower-middle income brackets. Its growth and market leadership are due to the quality of its programs, the strategic location of its units, its competitive prices and its solid financial position. At the end of December 2010, Estácio had 210,000 students enrolled in its undergraduate, graduate and distance learning education network, through 69 campuses and 51 distance learning centers. For more information: www.estacioparticipacoes.com.br
Citi, a leading global financial services company, 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.