Citi's Global Transaction Services business has been appointed as depositary bank by Brookfield Incorporacoes, a Brazil based company, 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 two ordinary shares.
Brookfield Incorporaçoes Nicholas Reade said that 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.
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.