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Industry: Email Alert RSS FeedAmericas: Argentina's siderar selects depositary, The
Global Finance, Jun 2003 by Platt, Gordon
Buenos Aires-bascd Siderar, Argentina's largest producer of flat-rolled steel, selected Bank of New York as successor depositary for its Regulation 144A American depositary receipt program.
Rule 144A programs are designed for securities not registered with the US Securities and Exchange Commission.
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One Siderar ADR is equivalent to eight of the company's ordinary shares. Siderar, which exports its products to 30 countries, is part of industrial conglomerate Techint.
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