JBS, Brazil-based multinational company producing beef and specialized beef products from a global production platform, selects the Bank of New York Mellon as the depositary bank for its American depositary receipt (ADR) program.
Each JBS ADR represents two common shares. The ADRs trade on the over-the-counter market under the symbol “JBSAY.” The common shares are listed on the Sao Paulo Stock Exchange (BOVESPA) under the symbol “JBSS3.”
JBS owns and operates slaughterhouses in North and South America, Europe and Australia. Among their brands are La Herencia, Inalca, King Island Beef, Tasman Meats and AMH, Friboi, Maturatta, Organic Beef, Swift, Swift Premium, Hereford, Montana, Cabana Las Lilas, Anglo. JBS’ product line includes specialized canned meats such as corned beef, case ready and portioned beef cuts for the retail and food service sectors, as well as other products associated with the beef sector.
Acting in partnership with companies from 64 countries the Bank of New York Mellon delivers the industry’s comprehensive package of integrated depositary receipt, corporate trust and stock transfer services. At the present time BNY Mellon is depositary for more than 1,300 sponsored American and international depositary receipt programs.
By establishing an ADR program as 2008 nears a close, JBS is opening up opportunities for 2009, says Michael Cole-Fontayn, chief executive officer, the Bank of New York Mellon’s Depositary Receipt Division. “We will work closely with JBS to facilitate sustained visibility in the U.S. market, developing strategic market outreach initiatives aligned with the company’s goals.
As we bring our ADR program to the U.S. financial markets, we are pleased to have the support of The Bank of New York Mellon, says Jerry O’ Callaghan, investor relations director, JBS. We believe the bank’s expertise and resources will serve us well in our efforts to elevate our profile among U.S. investors.
L.D.