NEW YORK, Nov. 17, 2014 /PRNewswire/ -- OTC Markets Group Inc. (OTCQX: OTCM), operator of Open, Transparent and Connected financial marketplaces, today announced Estacio Participacoes S.A. (BM&FBovespa: ESTC3; OTCQX: ECPCY), one of Brazil's largest private-sector post-secondary education providers, has qualified to have its American Depositary Receipts (ADRs) trade on OTCQX®, the best marketplace.
Estacio begins trading today on OTCQX under the symbol "ECPCY," 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.
"We are thrilled to welcome Estacio to the growing family of established global and growth companies on OTCQX," said R. Cromwell Coulson, President and CEO of OTC Markets Group. "Trading on OTCQX will provide Estacio's U.S. investors transparent trading and convenient access to the company's news and financial disclosure so they can more easily analyze, value and trade its securities. We look forward to working with Estacio's management team as the company expands its presence in the U.S. investment market."
"Upgrading our ADR program to the OTCQX marketplace was the appropriate move for Estacio and our investors," said Virgílio Gibbon, CFO and Investor Relations Officer of Estacio. "With OTCQX, we can clearly communicate our expertise to the financial markets and ensure our shareholders receive high-quality disclosure, transparent trading and easy access through their regulated U.S. broker-dealer."
Citi serves as Estacio's Principal American Liaison ("PAL") on OTCQX, responsible for providing professional guidance on OTCQX requirements.
Estacio's learning network consists of one university, six university centers, 35 colleges and 163 distance learning units recognized by the Ministry of Education (MEC). This network encompasses 84 campuses in the major urban centers of 20 states throughout Brazil, strategically near the residential neighborhoods and workplaces of the company's target students: middle and lower-middle income working adults.
The company has highly qualified professors, advanced teaching methodologies and well equipped facilities. It offers around 78 undergraduate and associate degree programs in the areas of life and health sciences. Furthermore, it offers master's, doctoral, and other graduate programs, as well as continuing education courses, which it believes are of distinguished quality and offered at competitive prices. The programs focus on students' professional development and on improving their employment prospects.
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 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.
Saskia Sidenfaden, OTC Markets Group Inc., +1 (212) 896-4428, [email protected]
SOURCE OTC Markets Group Inc.