The U.S. Securities and Exchange Commission (SEC) declared effective the Registration Statement (Form 20-F) of Level II American Depositary Receipts (ADR II) filed by Grupo Éxito on July 3, 2023
The U.S. Securities and Exchange Commission (SEC) declared effective the Registration Statement (Form 20-F) of Level II American Depositary Receipts (ADR II) filed by Grupo Éxito on July 3, 2023.
The New York Stock Exchange (NYSE) approved the registration of these ADR.
In April, the Brazilian Securities Commission (CVM) and the Bolsa B3 S.A. - Brazil, Bolsa, Balcão (B3) approved the registration of the Level II Brazilian Depositary Receipts (BDR Level II) to be listed in the Brazilian market in the Novo Mercado segment of the B3.
With this approval of the ADR registration, Éxito's shares (through the respective depositary receipts) will be registered in the United States and Brazilian markets, in addition to the Colombian stock market, being the only company in the country with shares in these three markets.
This project seeks to increase the company's share liquidity, significantly extending its shareholder base from a float of 3.48% to approximately 53%.
Today the SEC (U.S. Securities and Exchange Commission) declared effective the Registration Statement (Form 20-F) of Éxito’s shares, represented by Level II American Depositary Receipts (ADR II). Additionally, the New York Stock Exchange (NYSE) approved the registration of the ADR, which means that they can be listed on the NYSE. Each ADR will represent 8 shares of Éxito's common stock.
With this approval, Grupo Éxito advances in the project announced on September 5, 2022, which involves a capital reduction of Companhia Brasileira de Distribuição (GPA), which would take place in Brazil, through which GPA would distribute approximately 83% of Éxito's capital to its more than 50,000 shareholders, who would also become shareholders of Éxito directly through Level II Brazilian Depositary Receipts (BDR Level II) or American Depositary Receipts (ADR Level II).
On April 4, the Brazilian Securities Commission (CVM) and the Brazilian B3 S.A. (B3) approved Éxito’s request to list and trade Éxito’s Level II BDR in the Novo Mercado segment of B3 in Brazil. Each BDR will represent 4 shares of Éxito’s common stock.
The distribution of Level II BDR and Level II ADR to GPA shareholders will take place once the Financial Superintendence of Colombia approves the transfer of shares to the Level II BDR and Level II ADR programs and DECEVAL makes the respective annotations of the transfers in Éxito's shareholder registry book.
The project seeks to generate greater liquidity for Éxito's share, which would bring potential benefits for all the company's shareholders, as it would increase the visibility of the business, potentially resulting in the fair recognition of its value in the market. Through this project, Éxito's float would increase from 3.48% to 53% approximately, after the distribution of BDR and ADR by GPA to its current shareholder base, which would make Éxito one of the companies with the highest float in the Colombian Stock Exchange.
In the following link is attached the relevant information published today by Grupo Éxito, which contains in greater detail the decisions adopted and the steps taken to date.
July 25, 2023