Author Topic: HRT - Participacoes em Petroleo  (Read 16883 times)

globalfinancepartners

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Re: HRT - Participacoes em Petroleo
« Reply #60 on: August 12, 2014, 06:44:05 AM »
I've had the new shares for a few days now.  OTC ticker switched from HRTPY to HRTPD


Josh4580

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Re: HRT - Participacoes em Petroleo
« Reply #61 on: January 22, 2015, 09:00:02 AM »
http://www.bloomberg.com/news/2015-01-22/petrorio-has-biggest-gain-after-buying-shell-project.html?cmpid=yhoo

"PetroRio SA (HRTP3), the company formerly known as HRT Participacoes em Petroleo SA, had its biggest intraday gain after agreeing to buy an 80 percent stake in a Royal Dutch Shell Plc project in Brazil."

HRTP3 is trading at 6 BRL today.   HRTPY is currently halted at $0.60

The fair value right now of HRTPY is $1.17 minus any discount for ADS fees.  Lets see where it starts trading. 

Josh4580

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Re: HRT - Participacoes em Petroleo
« Reply #62 on: January 14, 2018, 01:09:49 PM »
Hey everyone,

I need some help on this stock.  I am wondering if anyone here still owns any HRTPY (Petro Rio).

The company's ADR was delisted on January 27th, 2017.  See the PR below:

https://www.newswire.ca/news-releases/petrorio---delisting-from-tsx-v-in-connection-with-termination-of-gds-program-608620685.html

I tried to open a Brazilian brokerage account but its basically impossible (IBKR doesnt offer Brazil trading believe it or not).  So I decided to just let DB sell the stock for me and get the proceeds. 

Its been almost a year since the stock was delisted.  The last price HRTPY traded at was $3.86.  That day the Brazilian stock (PRIO3.SA) traded at 27.59 BRL.  The stock has since increased to 95.90 BRL, a 247% increase.   

In the press release it states:  "In the absence of written instructions from the GDS holders or their agents by the end of such four month period as to how the underlying Common Shares are to be delivered to a valid brokerage account, such Common Shares to which the former GDS holder was entitled will be sold in the market by Deutsche Bank and the net proceeds remitted to the former GDS holder."

So far its been a year and I have not received any distribution nor has any of my friends or family that also own the stock.

As per this message board, DB has not sold any shares yet. 

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=137355699

FYI...I just called Deutsche Bank in New York and they stated that the GDS shares have yet to be sold. They were hoping for a sale before the end of 2017 but that did not happen. He told me to keep calling back to check...212-250-9100.

What are your guys opinions as to what is going on here and what type of distribution I can expect?

Thanks!