CPFL Energia has appointed Deutsche Bank as the successor depositary bank for its New York Stock Exchange (NYSE)-listed American Depositary Receipt (ADR) programme.
CPFL Energia is a market leader in Brazil in both electricity distribution and commercialisation, with market shares of 13% and 22%, respectively. It distributes energy to 6.5 million customers, located mainly in economic and industrial centres in Brazil, in upstate São Paulo and Rio Grande do Sul, as well as in some municipalities in the states of Paraná and Minas Gerais.
“We are pleased with the appointment of Deutsche Bank as our new ADR depositary and are looking forward to working with the global team to continue to enhance our relationship with investors,” said José Antonio de Almeida Filippo, chief financial officer (CFO) and investor relations officer (IRO) at CPFL Energia.
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