Tirupati Graphite has announced that it has filed an application to the OTC Markets Group for the Company’s shares to be cross traded publicly on the OTCQX Market (OTCQX).
This will would make Tirupati’s shares more widely available to North American investors. Tirupati has engaged the corporate securities law firm of Galanopoulos & Company to act as its OTC Markets Sponsor in connection with the onboarding.
Trading on the US OTC market would have no impact on existing Tirupati ordinary shares trading on the Main Market of the London Stock Exchange and no new ordinary shares will be issued as part of the cross trade.
Tirupati will continue to rely on the announcements and disclosures it makes to the London Stock Exchange and will have no Sarbanes-Oxley or SEC reporting requirements in connection with cross-trading on the OTCQX.
Upon successful application, the cross-trading facility will be provided through OTC Markets Group, located in New York, USA.
OTC Markets operates the world’s largest electronic interdealer quotation system for US broker dealers and offers multiple media channels to increase the visibility of OTC-traded companies.
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Shishir Poddar, CEO of Tirupati Graphite, says:
“The cross-trading of our shares on the OTCQX Market gives us access to a deeper pool of capital from U.S. dollar denominated investors in North America and exposes us to the US investment community, a region that is showing extensive interest from investors in our areas of activity.
“Additionally, listing on the OTCQX will enhance the Company’s visibility in North America where we have many potential customers for our graphite, graphene, and advanced materials all-encompassing products.
“The potential US customer base for Tirupati includes industry players in the energy storage and electric vehicles, thermal management and flame retardants, composites and advanced materials sectors, and more, and for the new age materials we are developing, and we aim to increase visibility in the US, which is a massive addressable market for our full suite of green products.
“Dual trading on the OTC Markets represents an important step for the Company both for diversification of its share register and for increasing visibility for buyers. We will update the market on the progress of our application, ticker code and commencement of trading of Tirupati shares on OTCQX in due course.”