BNY Mellon named as BrasilAgro's depositary bank 08 November 2012New York Reporter: Jenna Jones
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BrasilAgro (Companhia Brasileira de Propriedades Agricolas) has appointed BNY Mellon as the depositary bank for its American depositary receipt (ADR) programme.
Brasilagro is an agricultural land developer that is also involved in forestry, pasture areas and the cultivation of various crops.
BrasilAgro is the first Brazilian company to list in the US since the global financial crisis.
Julio Piza, CEO of BrasilAgro, Sao Paulo, said: “This is an exciting time for our company as we list on the New York Stock Exchange. Gaining exposure for our ADRs in the US market is a key goal for us, and we are confident BNY Mellon is well positioned to help us achieve it.”
Michael Cole-Fontayn, CEO of BNY Mellon’s depositary receipts business, said: “BrasilAgro is the first US listing from Brazil in three years and a noteworthy transaction given global market conditions.”
“It shows the continued attractiveness of US capital markets to companies seeking to expand. Being appointed depositary for this milestone only reinforces our presence in Brazil and we look forward to working closely with BrasilAgro to raise the company’s visibility among investors.”
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