Ecopetrol’s ADR is the first
NYSE-listed program by a Colombian company in more than a decade
J.P. Morgan today announced it has been appointed depositary bank for
the American Depositary Receipt (ADR) program for Ecopetrol S.A. J.P.
Morgan will manage all aspects of the ADR program in the U.S. for
Ecopetrol, the largest company in Colombia. Ecopetrol’s
ADR is the first NYSE-listed program by a Colombian company in more than
a decade.
Javier Gutierrez, CEO at Ecopetrol, said: “We
are very pleased to have chosen J.P. Morgan to manage our ADR program to
support our future growth initiatives, which will enable us to compete
as a global energy provider. It is also an honor for us to be the first
Colombian company to list on the New York Stock Exchange in over 10
years.”
William Kirst, Depositary Receipts Executive for Latin America at J.P.
Morgan, said: “We are delighted to be working
with a growing company like Ecopetrol. We look forward to helping
Ecopetrol fully leverage its ADR program to help support the company’s
growth plans. This mandate is testament to J.P. Morgan’s
strong position in the depositary receipt industry, in both developed
and emerging markets.”
J.P. Morgan launched the first DR in Latin America in 1960 (Teléfonos
de México) and serves as depositary for a
number of DR programs in Latin America, including Banco Santander -
Chile, Petroleo Brasileiro S.A. and Companhia Vale do Rio Doce. In 2007,
the firm launched a global depositary shares (GDS) program for Grupo Clarín
S.A., the first Argentine company to have a DR listing on the London
Stock Exchange. That year it also launched a global depositary receipt
(GDR) program for Almacenes Exito S.A., the first primary offering of
equity securities by a Colombian company outside of the home market in
over 10 years.
About Ecopetrol S.A.
Ecopetrol S.A. (NYSE: EC) is the largest company in Colombia as measured
by revenue, profit, assets and shareholders’
equity. The company is Colombia’s only
vertically integrated crude oil and natural gas company with operations
in Colombia and overseas. Ecopetrol is one of the 35 largest petroleum
companies in the world and one of the four principal petroleum companies
in Latin America. It is majority owned by the Republic of Colombia and
its shares trade on the Bolsa de Valores de Colombia S.A. (BVC) under
the symbol ECOPETL. The company divides its operations into four
business segments that include exploration and production;
transportation; refining; and marketing of crude oil, natural gas and
refined-products.
Ecopetrol is committed to developing into a key player with high
competitive standards, strong human resources and clear social
responsibility policies. For more information about Ecopetrol, please
visit the Company’s Web site at: www.ecopetrol.com.co.
About JPMorgan Chase & Co.
JPMorgan Chase & Co. (NYSE: JPM), is a leading global financial services
firm with assets of $2.0 trillion and operations in more than 60
countries. The firm is a leader in investment banking, financial
services for consumers, small business and commercial banking, financial
transaction processing, asset management, and private equity. A
component of the Dow Jones Industrial Average, JPMorgan Chase & Co.
serves millions of consumers in the United States and many of the world’s
most prominent corporate, institutional and government clients under its
J.P. Morgan, Chase, and Washington Mutual brands. Information about
JPMorgan Chase & Co. is available at www.jpmorganchase.com.
J.P. Morgan
Media:
John
Johmann, +1 917 669 7893
+44 (0)791 954 0742
john.johmann@jpmorgan.com
