NEW YORK, Aug. 7, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced that Cyrela Brazil Realty S.A. (BM&FBovespa: CYRE3; OTCQX: CYRBY), a leading residential real estate development company in Brazil, has qualified to have its American Depositary Receipts (ADRs) trade on OTCQX®, the best marketplace.
Cyrela begins trading today on OTCQX under the symbol "CYRBY," where each ADR represents one ordinary share. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
"Cyrela has been housing the citizens of Brazil for over 50 years, earning a reputation for quality and a commitment to its employees and community that are characteristic of a global OTCQX company," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "We are excited to welcome Cyrela to the OTCQX group of companies and wish the company continued success."
Paulo Goncalves, Head of Investor Relations and Structured Finance at Cyrela, commented, "We are pleased to upgrade our ADRs to the OTCQX marketplace. It is an important step in ensuring company information is widely and consistently available as well as providing our investors with access to a transparent trading platform."
BNY Mellon serves as Cyrela's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
Cyrela is a leading developer in the Brazilian residential real estate market. The company develops residential and commercial real estate buildings targeted at customers in all income segments, with a focus on high-quality luxury residential apartments. More than 200,000 families have chosen the solidity and safety of Cyrela which has been growing for the last 50 years.
Currently, Cyrela has more than 10,000 employees and constantly invests in people through its Corporate University and social responsibility programs. The company contributes to neighborhood improvements through urban enhancements and caring for the environment through waste management undertaken at construction sites. Cyrela makes a point of adding value to the life of stakeholders.
Cyrela is satisfied to have built a respectful name and to have become a synonym of quality, based on its achievements and innovative history. Among the 50 most valuable brands in Brazil, Cyrela has 200 construction sites in action in 67 different cities in 16 Brazilian states and in the Federal District.
About OTC Markets Group Inc.
OTC Markets Group Inc. (OTCQX: OTCM) operates Open, Transparent and Connected financial marketplaces for 10,000 U.S. and global securities. Through our OTC Link® ATS, we directly link a diverse network of broker-dealers that provide liquidity and execution services for a wide spectrum of securities. We organize these securities into marketplaces to better inform investors of opportunities and risks – OTCQX®, The Best Marketplace; OTCQB®, The Venture Stage Marketplace; and OTC Pink®, The Open Marketplace. Our data-driven platform enables investors to easily trade through the broker of their choice at the best possible price and empowers a broad range of companies to improve the quality and availability of information for their investors. To learn more about how we create better informed and more efficient financial marketplaces, visit www.otcmarkets.com.
OTC Link ATS is operated by OTC Link LLC, member FINRA/SIPC and SEC regulated ATS.
SOURCE OTC Markets Group Inc.