BNY Mellon Appointed as Depositary Bank by BrasilAgro (Companhia Brasileira de Propriedades Agricolas) for its New York Stock Exchange Listing
NEW YORK, Nov. 8, 2012 /PRNewswire/ -- BNY Mellon, the global leader in investment management and investment services, has been appointed by Companhia Brasileira de Propriedades Agricolas (BrasilAgro) as the depositary bank for its American depositary receipt (ADR) program. Each BrasilAgro ADR represents one ordinary share and trades on the New York Stock Exchange under the symbol "LND." BrasilAgro's ordinary shares trade on the BM&F Bovespa under the symbol "AGRO3."
BrasilAgro is an agricultural land developer and one of Brazil's largest companies in terms of arable land holdings. It is also involved in forestry, pasture areas, and the cultivation of various crops. BrasilAgro is the first Brazilian company to list in the U.S. after a hiatus resulting from the financial crisis.
"This is an exciting time for our company as we list on the New York Stock Exchange," said Julio Piza, CEO of BrasilAgro in Sao Paulo. "Gaining exposure for our ADRs in the U.S. market is a key goal for us, and we are confident BNY Mellon is well positioned to help us achieve it."
"BrasilAgro is the first U.S. listing from Brazil in three years and a noteworthy transaction given global market conditions," said Michael Cole-Fontayn, CEO of BNY Mellon's Depositary Receipts business. "It shows the continued attractiveness of U.S. capital markets to companies seeking to expand. Being appointed depositary for this milestone only reinforces our presence in Brazil, and we look forward to working closely with BrasilAgro to raise the company's visibility among investors."
BNY Mellon acts as depositary for more than 2,500 American and global depositary receipt programs, acting in partnership with leading companies from 68 countries. BNY Mellon is committed to helping securities issuers access the world's rapidly evolving financial markets and delivers a comprehensive suite of depositary receipt services. Learn more at www.bnymellon.com/dr.
BNY Mellon is a global financial services company focused on helping clients manage and service their financial assets, operating in 36 countries and serving more than 100 markets. BNY Mellon is a leading provider of financial services for institutions, corporations and high-net-worth individuals, offering superior investment management and investment services through a worldwide client-focused team. It has $27.9 trillion in assets under custody and administration and $1.4 trillion in assets under management, services $11.6 trillion in outstanding debt and processes global payments averaging $1.4 trillion per day. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Learn more at www.bnymellon.com or follow us on Twitter@BNYMellon.
This release is for informational purposes only. BNY Mellon provides no advice nor recommendation or endorsement with respect to any company or securities. Nothing herein shall be deemed to constitute an offer to sell or a solicitation of an offer to buy securities. Depositary Receipts: Not FDIC, State or Federal Agency Insured; May Lose Value; No Bank, State or Federal Agency Guarantee.
SOURCE BNY Mellon