JPMorgan Worldwide Securities Services has been appointed successor depositary bank for the common and preferred share American Depositary Receipt (ADR) programs for Petrobras. Petrobras is a Brazilian government-controlled company engaged in the exploration, refining, production and sale of petroleum and its by-products. It is the country’s largest integrated energy company with a market capitalization of approximately US$108bn. Each common share Petrobras American depositary share represents four common shares, and each preferred share Petrobras American depositary share represents four preferred shares. The common and preferred shares trade on the Sao Paulo Stock Exchange, BOVESPA, and both American depositary shares trade on the New York Stock Exchange. Petrobras shares are also traded on LATIBEX (Madrid) and the BCBA (Buenos Aires) Exchanges.
A report by broking group Marsh examines the repercussions from the administration of the South Korean company, which filed for bankruptcy protection at the end of August.
Global research by C2FO suggests that smaller businesses are less concerned with the repercussions of Brexit and the upcoming US presidential election.
A squeeze on skilled talent means it now takes an average of seven weeks to fill open permanent roles in finance in the UK according to new research from financial services recruitment firm Robert Half.
Early-stage merger and acquisition deals in Asia-Pacific show nearly 10% year-on-year growth in recent months.