NEW YORK--(BUSINESS WIRE)--
Today, Suzano Pulp & Paper started trading its American Depositary Shares (ADSs) on the New York Stock Exchange (NYSE) under the symbol “SUZ” (NYSE: SUZ). Each ADS represents two common shares in Suzano listed on the São Paulo Stock Exchange (B3). As of today, the securities previously traded under the symbol SUZBY on the over-the-counter (OTC) market no longer will be traded on the listing segment.
The move marks another important step in the process to integrate the business activities and shareholder bases of Suzano and Fibria Celulose under the deal announced on March 16, 2018. “The listing on the NYSE represents an opportunity to increase the liquidity, visibility and value of Suzano’s stock in the international market. It also further strengthens Suzano’s commitment to align increasingly its corporate governance with global best practices,” said Marcelo Bacci, Chief Financial and Investor Relations Officer at Suzano.
Prior to the deal’s formalization, which is slated for January 14, 2019, the transaction was submitted for analysis and approval by all regulatory agencies in Brazil and various other countries.
The new company will have annual production capacity of 11 million tons of market pulp and 1.4 million tons of paper. It will have 11 plants and employ over 37,000 direct and indirect employees. From January to September 2018, the two companies reported consolidated operating cash flow of R$10.1 billion and net revenue of R$24.5 billion. Combined, Suzano and Fibria invested R$4.9 billion in the period.
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