SOURCE: Pink OTC Markets Inc.

August 01, 2008 09:00 ET

Benetton Group S.p.A. Joins International OTCQX

NEW YORK, NY--(Marketwire - August 1, 2008) - Pink OTC Markets Inc., the leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities, announced on Wednesday that Benetton Group (PINKSHEETS: BNGPY) (OTCQX: BNGPY), a global fashion company with a presence in 120 countries with over 5,800 stores, is the first Italian company to list its American Depositary Receipts (ADRs) on International OTCQX.

Benetton's ADRs began trading today on the OTC market's highest tier, International PremierQX, where investors can find current disclosure and financial information on the company (available on www.otcqx.com and www.pinksheets.com).

"We are pleased to welcome a company of Benetton's caliber to the International OTCQX market tier," said R. Cromwell Coulson, Chairman and CEO of Pink OTC Markets Inc. "As an International OTCQX-listed company, Benetton distinguishes itself as one of the most prestigious companies trading over-the-counter, and provides U.S. investors with access to their latest news and disclosure information."

Deutsche Bank will serve as Benetton's Principal American Liaison ("PAL") on the International OTCQX, responsible for providing guidance on listing requirements.

Benetton's ADRs will trade in the United States on International OTCQX under the ticker "BNGPY" where each ADR will represent two ordinary shares. Benetton's shares are also listed on the Borsa Italiana. The company's headquarters are in Treviso, Italy.

About Benetton

Benetton Group is present in 120 countries around the world. Its core business is fashion apparel. A group with a strong Italian character whose style, quality and passion are clearly seen in its brands, the casual United Colors of Benetton, the glamour oriented Sisley, Playlife American college style, and Killer Loop streetwear. The Group produces over 150 million garments every year. Its network of over 5,800 contemporary stores around the world offers high quality customer services and generates a total turnover of over 2 billion euro per year.

Benetton ADR Program

In 1989 Benetton Group was listed on the New York Stock Exchange, NYSE, through an ADR issue structured as a Level III Program. An ADR (American Depositary Receipt) is a receipt that is issued by a depositary bank representing ownership of the Company's underlying ordinary shares. Each Benetton ADR represents two Benetton ordinary shares. On September 12, 2007 the Company's Board of Directors decided to delist the American Depositary Shares from the New York Stock Exchange and requested the voluntary deregistration and termination of its obligations under the Securities Exchange Act of 1934. Subsequent to the deregistration Benetton maintained its ADR facility as a Level I Program. This means that ADRs trade in the over-the-counter market.

For more information: www.benettongroup.com/investors

About International OTCQX

International OTCQX provides a gateway to U.S. securities markets for international companies that are listed on a qualified non-U.S. exchange and provide ongoing disclosure in English to U.S. investors. More importantly, International OTCQX distinguishes the reputable international issuers from the 8,000 over-the-counter (OTC) securities traded in the U.S. Only leading companies that have substantial operating businesses and provide credible disclosure to the public are eligible for inclusion on the premium-tier International OTCQX, which commenced trading on March 5, 2007. For more about International OTCQX, visit www.otcqx.com.

About Pink OTC Markets Inc.

Pink OTC Markets Inc. provides the leading inter-dealer electronic quotation and trading system in the over-the-counter (OTC) securities market. We create innovative technology and data solutions to efficiently connect market participants, improve price discovery, increase issuer disclosure, and better inform investors. Pink OTC Markets operates the third largest U.S. equity trading venue which includes both the elite OTCQX market tiers for strong OTC-traded companies that can satisfy financial and disclosure listing standards and Pink Sheets for all other OTC quoted securities.

Over 230 financial service firms, including the ten largest U.S. investment banks, actively make markets in OTCQX and Pink Sheets quoted securities and in 2007 these firms traded over $160 billion of OTCQX and Pink Sheets securities. Pink OTC Markets offers widespread access to all U.S. broker-dealers, enabling investors to seamlessly trade these securities through their institutional, online, or full service brokers.

Pink OTC Markets is headquartered in New York City.

To learn more about how Pink OTC Markets' products and services make OTC markets more transparent, informed, and efficient, please visit our websites at www.pinksheets.com and www.otcqx.com or contact us at info@pinkotc.com.

Contact Information

  • Media Contact:
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    CCG Investor Relations
    +1 (646) 454-4519
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