CITI APPOINTED DEPOSITARY FOR PDG REALTY'S NEW ADR PROGRAM
NEW YORK - Jan. 12 – Citi today announced that its Global Transaction Services business has been appointed by PDG Realty S.A. ("PDG"), a leading Brazil-based investment company engaged in the real estate industry, to act as the depositary bank for its new American Depositary Receipt (ADR) program.
PDG Realty's ADRs trade in the U.S. on the over-the-counter (OTC) market under the symbol PDGRY (CUSIP: 70454K109). The company's ordinary shares are listed on the São Paulo Stock Exchange (BOVESPA) under the symbol PDGR3. Each ADR represents 2 ordinary shares.
José Grabowsky, CEO of PDG Realty, said: "The launch of our OTC program is an important milestone for PDG Realty, as we broaden our international investor base and further develop our relationship with Citi."
Nancy Lissemore, Global Head of Depositary Receipt Services at Citi, said: "We are pleased to have been selected by PDG Realty to implement their new ADR program and look forward to providing them access to our comprehensive suite of services, including investor relations counsel and strategic promotional support of the program. As an important client of Citi, with a significant presence in Brazil, we welcome PDG to our platform for depositary receipt services."
Citi's Depositary Receipt Services is part of Citi's Global Transaction Services business, which 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 spanning over 140 countries, Citi's Global Transaction Services supports over 65,000 clients. As of the 3rd quarter of '08, it held on average $273 billion in liability balances and $11.9 trillion in assets under custody.
For more information on Citi's Depositary Receipt Services, visit www.citi.com/dr
Citi, the leading global financial services company, has some 200 million customer accounts and does business in more than 100 countries, providing 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, and wealth management. Citi’s major brand names include Citibank, CitiFinancial, Primerica, Smith Barney, Banamex, and Nikko. Additional information may be found at www.citigroup.com or www.citi.com.
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