JSE-listed ICT company Datatec announced today that it has been admitted to the OTCQX trading platform in the US.
In a statement, the company says by harnessing the largest pool of capital across the full spectrum of US investors, Datatec aims to broaden international investor access, and grow and diversify its shareholder base.
It explains that the OTCQX Market is a platform that enables companies listed on qualified international exchanges to offer transparent trading for US investors during US trading hours, using share prices quoted in US dollars.
According to Datatec, a simplified regulatory framework allows international companies to use their home market reporting and disclosure practices to make their information accessible in the US.
It notes that approximately 12 000 US and international securities from over 50 recognised global exchanges trade on the OTC Markets Group platform.
To qualify for the OTCQX, companies must adhere to high financial and reporting standards, follow best practices in corporate governance, and comply with relevant securities laws.
Datatec shares begin trading today on OTCQX under the symbol “DTTLF”. The company says US investors can find current financial disclosure and real-time level two quotes for the company on www.otcmarkets.com.
Datatec management comments: “We are delighted to begin trading on the OTC Market’s premier tier, OTCQX.
“This additional trading venue will allow US investors access to Datatec shares quoted in US dollars and provides a platform to disseminate Datatec’s corporate disclosure to US investors with transparency. The company remains committed to maintaining the best possible disclosure for its shareholders.”
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