International Business Machines Corporation CEDEAR

International Business Machines Corporation CEDEAR is a depositary receipt that represents an interest in the U.S.-listed shares of International Business Machines Corporation, enabling investors in Argentina to gain exposure to the company in local currency under the domestic market framework. The instrument mirrors the underlying firm’s profile as a global technology provider spanning software, consulting, infrastructure, and financing, with offerings that include hybrid cloud platforms, data and artificial intelligence solutions, cybersecurity software, transaction processing, and mission‑critical systems for regulated industries. As a CEDEAR, it facilitates portfolio diversification and access to a mature, large‑cap technology issuer without transacting directly on foreign markets, with pricing and liquidity in pesos while economically linked to the underlying U.S. equity and its corporate actions. The underlying company, established in 1911 and known for enterprise innovation across more than a century, remains focused on digital transformation services that support banks, airlines, retailers, and the public sector globally. This structure positions the CEDEAR as a vehicle for local investors to track a prominent multinational’s performance via Argentina’s market infrastructure.