NEW YORK--(BUSINESS WIRE)--Citi, acting through Citibank N.A., has been appointed by CPFL Energia S.A. (“CPFL”), the largest private integrated utility company in Brazil, as the successor depositary bank for its American Depositary Receipt (“ADR”) program.
CPFL’s ADRs are traded on the New York Stock Exchange under the symbol “CPL,” and its ordinary shares are traded on the BM&FBOVESPA Stock Exchange in Brazil. One CPFL ADR represents two ordinary shares.
“Our relationship with Citi has broadened and evolved over the years, and we are delighted to now also have Citi as our depositary bank,” said Leandro Cappa, Investor Relations Officer at CPFL. “We look forward to working closely with Citi and leveraging its value-added resources, vast Latin American and global presence, commitment to equities, and investor relations expertise to enhance our ADR holder base.”
“We are delighted to be appointed successor depositary bank for CPFL Energia’s ADR program,” said Dirk Jones, Head of Global Issuer Services at Citi. “With Citi’s investor relations expertise and unparalleled global presence, we are confident that our powerful platform will provide CPFL Energia with the opportunity to continue to expand its investor base worldwide and maximize the visibility of its ADR program.”
Citi is a leading provider of Depositary Receipt Services. With Depositary Receipt programs in 55 markets, Citi leverages its global network to help companies connect to new markets and raise capital worldwide.
For more information about Citi’s Depositary Receipt Services, please visit www.citi.com/dr.
CPFL is a holding company in the Brazilian electricity industry, operating through its subsidiaries in the generation, distribution, commercialization and services businesses, with revenues of R$ 18.4 billion (US$ 6.9 billion) in 2013 and market capitalization of R$ 17.5 billion (US$ 6.6 billion), as of December, 12th, 2014. It completed this year 102 years of operations. From its inception in the interior of Brazil’s industrial heartland, São Paulo state, it has grown to become the largest privately-owned electricity group in the country. Ever since its IPO in 2004, CPFL has participated in the listing tiers of the São Paulo Stock Exchange (BM&FBOVESPA) and the New York Stock Exchange (NYSE) with the most stringent requirements for corporate governance: the Novo Mercado and ADR level III, respectively. CPFL Energia is a market leader in Brazil in the distribution segment, with market share of 13%. During the year ending December 31, 2013, CPFL Energia’s sales in its distribution companies’ concession areas reached 58,463 GWh, distributing energy to 7.5 million customers, located mainly in economic and industrial centers in Brazil, in the states of São Paulo and Rio Grande do Sul, as well as in some municipalities in the states of Paraná and Minas Gerais. CPFL Energia also holds a 2% market share in the Brazilian generation segment, with an installed capacity of 2,860 MW and has operations in the Commercialization and Service businesses.
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.
Additional information may be found at www.citigroup.com | Twitter: @Citi | YouTube: www.youtube.com/citi | Blog: http://blog.citigroup.com | Facebook: www.facebook.com/citi | LinkedIn: www.linkedin.com/company/citi