Braskem Celebrates Name and Symbol Change at the NYSE.Business Editors NEW YORK--(BUSINESS WIRE)--Oct. 8, 2002 Citibank Depositary Receipt depositary receipt A negotiable certificate that represents a company's publicly traded debt or equity. Depositary receipts are created when a company's shares or bonds are delivered to a depositary's custodian bank, which instructs the depositary to issue Services announced that this morning Braskem participated in the Opening Bell Ceremony at the New York Stock Exchange New York Stock Exchange (NYSE) World's largest marketplace for securities. The exchange began as an informal meeting of 24 men in 1792 on what is now Wall Street in New York City. (NYSE NYSE See: New York Stock Exchange ) to celebrate its new name. The Brazilian company Copene - Petroquimica do Nordeste S.A. changed its name to Braskem soon after the recent merger between Copene and the petrochemical assets of the Odebrecht and Mariani groups, which strengthened the company's position as one of the largest petrochemical companies in Latin America. The company's American Depositary Shares (ADSs), which had been trading on the New York Stock Exchange under Copene's symbol PNE PNE Pine (street suffix) PNE Preston North End (Soccer Club) PNe Planetary Nebulae PNE Pacific National Exhibition PNE Platform for Network Equipment (Wind River) , now trade under the symbol BAK Bak Bak A member of the bcl-2 family expressed in a wide range of cells which, when overexpressed in NGF-deprived sympathetic neurons accelerates apoptosis, and counteracts Bcl-2's apoptosis-protecting effects. See Bcl-2. . The corresponding CUSIP number CUSIP Number An identification number assigned to all stocks and registered bonds. The Committee on Uniform Securities Identification Procedures (CUSIP) oversees the entire CUSIP system. Notes: This system is used in the U.S. and Canada. has also changed from 217152105 to 105532105. The shares issued by Braskem S.A. in the local market are traded on the Sao Paulo Stock Exchange Sao Paulo Stock Exchange See: Bolsa de Valores de Sao Paulo - Bovespa. Each Braskem ADS represents 50 preferred shares Preferred shares Preferred shares give investors a fixed dividend from the company's earnings and entitle them to be paid before common shareholders. See: Preferred stock. . "This event emphasizes Braskem's strategic objective to strengthen its leadership position in the petrochemical industry," said Kurt Schneiber, Global Managing Director, Citibank Depositary Receipt Services. "We will continue to support Braskem in its efforts to broaden its base of U.S. and global shareholders." Braskem is amongst the five largest private industrial companies in Brazil. The company operates 15 manufacturing plants and produces 4.3 million tons of chemical and petrochemical products a year. Following the merger of Odebrecht and Mariani groups' holdings, Braskem emerges as a large-scale company with consolidated leadership in the regional thermoplastics resins market. For further information about Braskem, visit www.braskem.com/br. For more information on Citibank ADR ADR - Astra Digital Radio programs, as well as industry trends and developments, please visit www.citibank.com/adr. Citibank Depositary Receipt Services leads the market in bringing quality issuers to the U.S. market and promoting American Depositary Receipts as an effective capital markets tool. Citibank began offering ADRs in 1928 and today is the market leader, widely recognized for delivering high quality, highly liquid programs to its customers. Citibank Depositary Receipt Services is a part of Citibank Global Securities Services, which serves global issuers, investors and intermediaries through the world's largest and most acclaimed proprietary network spanning 50 countries. It currently provides securities services to more than 2,500 customers worldwide and has more than $5 trillion in assets under custody. Citibank is the industry's premier custodian of cross-border assets, top ranked global clearer and recognized leader in depositary receipt services and agency and trust services. Citigroup (NYSE: C), the preeminent global financial services company with some 200 million customer accounts in more than 100 countries, provides consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, insurance, securities brokerage, and asset management. Major brand names under Citigroup's trademark red umbrella include Citibank, CitiFinancial, Primerica, Salomon Smith Barney, Banamex, and Travelers Life and Annuity. Additional information may be found at: www.citigroup.com. |
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