NEW YORK--(BUSINESS WIRE)--Citi’s Issuer Services business, acting through Citibank, N.A., has been appointed by Azul S.A. as the depositary bank for its Level 3 American Depositary Receipt (ADR) program.
Azul S.A.’s ADR program was established through a $643.5 million initial public offering, originally priced at $20.06 per ADR. The ADRs are listed on the New York Stock Exchange under the symbol “AZUL.” Each ADR represents three preferred shares. Azul S.A.’s underlying preferred shares are listed on the BM&FBOVESPA Stock Exchange.
“Citi is proud to be selected as depositary bank for Azul S.A.’s ADR program,” said Dirk Jones, Head of Global Issuer Services at Citi. “Citi is committed to providing Azul and its investors with the highest quality ADR services.”
“This is a great moment for Azul,” said John Rodgerson, CFO of Azul. “We are very confident that Citi is committed to doing its best to develop our ADR program and to providing value for our investors.”
Citi is a leading provider of depositary receipt services. With depositary receipt programs in 61 markets, spanning equity and fixed-income products, Citi leverages its global network to provide cross-border capital market access to issuers, intermediaries and investors.
For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr.
Citi, the leading global bank, has approximately 200 million customer accounts and does business in more than 160 countries and jurisdictions. Citi provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services, and wealth management.
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Azul Brazilian Airlines
Azul, the largest airline in Brazil by number of cities served, offers more than 800 daily flights to 102 destinations. With a fleet of 124 aircraft and more than 10,000 crewmembers, the company currently has a 32% share of departures of the Brazilian aviation market. Among other awards, Azul was named best low cost carrier in South America for the fifth consecutive time by Skytrax in 2015 and best low cost carrier in the world by CAPA in 2012. The airline also had best on-time performance in Brazil in 2014 and was recognized by FlightStats as having the best on-time performance in South America in 2012. For more information visit www.voeazul.com.br.