Petrobras Selects JPMorgan For US$25bn ADR Program
JPMorgan Worldwide Securities Services has been appointed successor depositary bank for the common and preferred share American Depositary Receipt (ADR) programs for Petrobras. Petrobras is a Brazilian government-controlled company engaged in the exploration, refining, production and sale of petroleum and its by-products. It is the country’s largest integrated energy company with a market capitalization of approximately US$108bn. Each common share Petrobras American depositary share represents four common shares, and each preferred share Petrobras American depositary share represents four preferred shares. The common and preferred shares trade on the Sao Paulo Stock Exchange, BOVESPA, and both American depositary shares trade on the New York Stock Exchange. Petrobras shares are also traded on LATIBEX (Madrid) and the BCBA (Buenos Aires) Exchanges.