Brazilian low cost airline, GOL, commemorated its second anniversary as a publicly-held company listed on the New York and Sao Paulo stock exchanges, by announcing the launch of a new version of its Investor Relations (“IR”) site. In line with the Company’s differentiated financial communications strategy, GOL’s new IR site includes several innovations, such as customizable home pages for different investor constituencies: analysts, institutional investors and retail investors.
GOL’s shares began trading on June 24th, 2004, and as of Friday’s close, GOL ADSs recorded appreciation of 303%, and GOLL4 shares recorded appreciation of 186%. The average daily trading volume of GOL’s shares, on the NYSE and Bovespa, was over US$10 million in 2005, which placed them among the most traded airline securities. A Bovespa Corporate Governance Level 2 company, in 2005 GOL shares were included in the IBrX50, IGC, ITAG and MSCI indexes, which reflects the increasing liquidity of its preferred shares.
Since listing on the NYSE and the Bovespa, GOL has built its IR program around three core principles: transparency, guaranteed access to information and equal treatment. The company is one of the few South American issuers which has complied with the requirements of the Sarbanes-Oxley Act. The Company was one of the 17 pioneering firms worldwide to adopt the SEC’s pilot XBRL program and its results in US GAAP will shortly be available in this format.