Financial Executives portal 01/06/2011
The cielo, a company specializing in solutions using electronic payments in Brazil and Latin America, announced that its ADRs (American Depositary Receipts) began today (01) to be traded on the OTCQX International Premier , the segment's highest U.S. OTC (OTC).
With OTCQX trading platform, the company gains visibility in the U.S. market, will offer investors a more transparent trading, higher quality information and easy access through regulated brokers in the U.S.. Cielo launched its program of Level I ADRs in March , 2010, each ADR represents one ordinary share. Banco Bradesco is the custodian of shares in Brazil and Deutsche Bank, the depositary bank in the United States, which will also act as the Principal American Liaison (PAL) of the Company, or be responsible for providing guidance on the requirements of the OTCQX.
Built four years ago, the OTCQX platform is an alternative for companies to access the capital markets of the United States without the expense of listing on traditional scholarship. The financial and real-time quotes of the Company are available on www.otcqx.com and www.otcmarkets.com.
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