New Listing in NYSE: Eletrobras ADR

Eletrobras logo

Today Eletrobras of Brazil, an electric utility listed its ADR shares on the New York Stock Exchange (NYSE) with the ticker EBR.

Formerly Eletrobras shares used to trade on the OTC market where they had been the largest Brazilian OTC stock.

A brief overview about Eletrobras from corporate site:

The biggest company of the energy sector in Latin America. Created in 1962, Eletrobrás (Centrais Elétricas Brasileiras S.A.) is the leader of a system consisting of six subsidiary companies, of the electric Power Research Center l (“Cepel”) and also holder of 50% of the capital stock of Itaipu Binacional. The company is the biggest company of the electric power sector in Latin America.”

Link: Eletrobras

Two other stocks that were listed in 2008 are:

1. Cascal NV – Utility in UK – HOO
2. Reed Elsevier NV – ENL – Publishing

We shall revisit these stocks in a few months.

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