(Source: Business Wire)
J.P. Morgan today announced that it has been appointed depositary bank
by Banco Santander (Brasil) S.A. ("Santander Brasil"), the fourth
largest bank in Brazil, for its American Depositary Receipt (ADR)
program. Santander Brasil trades on the New York Stock Exchange (NYSE)
under the symbol "BSBR" and on the Sao Paulo Stock
Exchange (BOVESPA) under the symbol "SANB11." Shares began trading on
the NYSE and on BOVESPA on October 7.
Santander Brasil's initial public offering is the largest ever by a
Latin American company. It is also the largest offering by any foreign
company on a U.S. exchange for all of 2009.
J.P. Morgan is now the depositary bank for three DR programs for bank
holding company Grupo Santander -- Banco Santander Spain, Banco Santander
Chile, and now Banco Santander Brasil. JPMorgan is the leading provider
of DR services in Latin America with 55.5% of the marketplace in terms
of market valuation*.
Claudine Gallagher, global head of depositary receipts at J.P. Morgan
said: "We are delighted to further enhance our relationship with Banco
Santander by now bringing their unit in Brazil to the NYSE. We are
pleased to have been able to help Banco Santander unlock the value of
its Brazilian business by accessing the depth and breadth of the U.S.
investment market."
J.P. Morgan launched the first DR in Latin America in 1960 (Teléfonos de
México) and serves as depositary for a number of leading DR programs in
Latin America, including Banco Santander - Chile, Petroleo Brasileiro
S.A. and Vale S.A. In 2007, the firm launched a global depositary shares
(GDS) program for Grupo ClarÃn S.A., the first Argentine company to have
a DR listing on the London Stock Exchange. That year it also launched a
global depositary receipt (GDR) program for Almacenes Exito S.A., the
first primary offering of equity securities by a Colombian company
outside of the home market in over 10 years.
For market information on DRs and international equities go to J.P.
Morgan's award-winning web site www.adr.com.
For more information on J.P. Morgan's DR services go to http://www.jpmorgan.com/visit/adr.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM), is a leading global financial services
firm with assets of $2.0 trillion and operations in more than 60
countries. The firm is a leader in investment banking, financial
services for consumers, small business and commercial banking, financial
transaction processing, asset management, and private equity. A
component of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of consumers in the United States and many of the
world's most prominent corporate, institutional and government clients
under its J.P. Morgan and Chase brands. Information about JPMorgan Chase
& Co. is available at www.jpmorganchase.com.
* 13-F filings of sponsored DR programs, September 2009
A service of YellowBrix, Inc.
