Deutsche Bank today announced its appointment as depositary bank for the Level I American Depositary Receipt (ADR) program of Brazil-based Odontoprev S.A. (OdontoPrev).
OdontoPrev is a leading dental benefits company in Latin America. With approximately six million members, OdontoPrev offers differentiated oral health solutions through a highly specialized network of 25,000 dentists. OdontoPrev has been listed on the Brazilian BM&FBovespa Novo Mercado since its 2006 initial public offering and has investors from 35 countries. Over the last five years, OdontoPrev has made eight acquisitions, quadrupling its sales, without incurring any leverage.*
Akbar Poonawala, Head of Global Equity Services at Deutsche Bank said, “We are delighted to be appointed as the depositary bank for OdontoPrev’s ADR program. Deutsche Bank's range of customized ADR-related services will be utilized to assist Brazil’s OdontoPrev in enhancing its ADR program visibility and broadening its investor base."
*Source: OdontoPrev (October 2012)