Zephyr Energy's share price is climbing on Friday after announcing that it is filing an application with the OTC Markets Group for its shares to be publicly cross-traded on the OTCQB Market, based in the US.
The OTCQB market is also known as the “Venture Market” and was created in 2010. It lists US and international companies in the entrepreneurial and development stage.
Zephyr, which currently trades on the AIM in London, believes that having its shares traded on the OTCQB will provide enhanced investor benefits, including easier trading access for investors in the US and greater liquidity due to a “broader geographic pool of potential investors.”
The process to enlist on the OTCQB will take approximately six weeks, and no new ordinary shares will be issued as part of the listing.
Colin Harrington, Chief Executive of Zephyr, said: “We believe dual trading on the OTC and AIM Markets represents another important step for the Zephyr corporate platform.
“Dual trading, combined with our recent pledge to achieve carbon neutrality across our operational footprint, will serve to diversify the share register and increase exposure to a broader range of investors, whether U.S.-based or ESG-focused.
“This action comes on the back of an already increased level of interest from U.S. investors as a result of the recent expansion of our operational footprint in the U.S.”
Zephyr Energy's share price is currently trading at 4.16p, up 1.24%.
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