Minerva SA starts trading on OTCQX
August 4, 2013
by Meat&Poultry staff
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NEW YORK – Minerva SA, one of the leading producers and sellers of fresh beef products and beef by-products in South America, has elected to have its American Depositary Receipts (ADRs) traded on OTCQX. As a result, it began trading Aug. 14 on OTCQX International Premier, a segment of the OTCQX marketplace reserved for world-leading non-US companies that are listed on a qualified international exchange.
"Upgrading our ADR program to the OTCQX marketplace was the right move for Minerva and our investors," said Eduardo Puzziello, investor relations officer of Minerva SA. "With OTCQX, we can clearly convey our qualifications to the financial markets and ensure our shareholders receive high-quality disclosure, transparent trading and easy access through their regulated US broker-dealer."
Deutsche Bank will serve as Minerva S.A.'s Principal American Liaison on OTCQX, responsible for providing professional guidance on OTCQX requirements.
Minerva SA is a leading producer of fresh beef, industrialized beef products and beef by-products in South America, with a daily slaughter capacity of 11,480 head of cattle and deboning capacity of 2,240 tons, which equals approximately 14,177 head of cattle. It also operates in the foodservice sector through Minerva Dawn Farms joint venture, which has a meat-processing capacity of 120 tons per day and produces beef-, pork- and poultry-based foods.
The company trades in the US on OTCQX under the symbol "MRVSY," where each ADR represents four ordinary shares.