Deutsche Bank has been selected as depositary bank for the sponsored Level I American Depositary Receipt (ADR) program by Brazilian food company Marfrig Alimentos.
Marfrig’s ordinary shares are listed on the Sao Paulo stock exchange. The company’s ADRs will trade OTC under the symbol MRRTY.
Marfrig Alimentos chief planning and investor relations officer Ricardo Florence said that Marfrig is glad to launch this Level I ADR Program, which adds an increased liquidity potential for the Marfrig shares.
Deutsche Bank Global Equity Services head Akbar Poonawala said Deutsche Bank is pleased to welcome Marfrig as a depositary receipts client.
“Our expanding base of Brazilian clients illustrates the commitment we have to this market and we look forward to providing Marfrig and its investors the highest level of service,” Poonawala said.