SEC approves GOWEX ADR Program (American Depositary Receipt) for a listing
on the U.S. market.
*The Securities and Exchange Commission has approved GOWEX’s ADR program;
the certificates will soon begin trading in the U.S.
*This first step for GOWEX on the strategic North American market paves way
for new strategic projects, new investors and a worldwide visibility
MADRID -- February 20, 2013
GOWEX (MAD:GOW) (Paris:ALGOW), leader in creating Wi-Fi Smart Cities (Wireless
Smart Cities®) and Intelligent Wi-Fi Transport, has received approval from the
Securities Exchange Commission (SEC) to initiate a program of ADR (American
Depositary Receipt) in the U.S. market.
* The ADR is a negotiable U.S. certificate representing ownership of shares
from a company registered outside the U.S. and is designed to provide easier
purchase, holding and sale of foreign securities by U.S. investors.
Isin Number : US5272611014
GOWEX ADRs will be listed in dollars on the Over the Counter "OTC" market,
under the ISIN Number US5272611014. The parity between ADR and an ordinary
share has been set as 1:1, one ADR corresponds to one common share of GOWEX.
Bank of New York Mellon will act as depositary bank responsible for managing
the ADR program.
Thanks to the ADR program American and international investors will easily
access to GOWEX shares reinforcing the company's global visibility and
liquidity. It will increase the shareholder base, with investors around the
world and promote a more efficient price establishment.
Jenaro Garcia pointed out that "GOWEX today opens the door to investors coming
from the most market friendly country." In addition, the CEO of GOWEX stressed
that "for us, the entry into the U.S. market is a quantum evolution for our
roadmap; it will be a fundamental leap in quality and visibility for the
importance of our company."
Documents are available on the SEC website.
About GOWEX (GOW-MAB, ALGOW-NYSE Alternext)
GOWEX (GOW-MAB, ALGOW-NYSE Euronext) has operated in the telecommunications
sector for 13 years. It is currently leading the creation of "Wi-Fi Cities,"
which offers free and premium Wi-Fi connectivity on the street and in means of
public transportation. The company is now exporting its innovative business
models to many cities in Europe, South America, Asia, and emerging countries.
In 2010, it became the first and only Spanish SMB to make a "dual listing,"
publicly traded in MAB (GOW) and NYSE-Euronext (ALGOW). The company's total
revenue amounted to €66.7 million in 2011, and for the first half of 2012, it
was €41 million (60% over the same period on 2011. On December 2012, GOWEX
subscribed a €18 million capital, adding 1,528,404 new common shares to the
With offices in Madrid, Burgos, Buenos Aires, London, San José (Costa Rica),
Paris, and Shanghai, GOWEX develops a sustainable business model in its Wi-Fi
networks, based on the efficient and technical quality of their patented
platforms: the Roaming Platform, which allows users to connect freely in all
the cities, and the Geolocalization Content and Advertisement Platform, which
provides financing business through marketing and advertisement agreements.
In 2011, GOWEX joined the Wireless Broadband Alliance and received a prize for
the “Best Web Company” on Internet Day.
In February 2012, Jenaro Garcia GOWEX CEO received the “Entrepreneur of the
Year Award” by Ernst & Young in the category of "Innovation”.
P° de la Castellana 21
28046 Madrid (Espana)
Tlf. +34 91 360 14 70
Florencia Mate Garabito, + 34 670 738 579
Manager & Investor Relations
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