Paladin Energy has announced its upgrade from trading on the Pink Market to the OTCQX Best Market in the United States (US).
Trading commenced on the OTCQX market on 2 June 2021. The Company will continue to have its primary listing
on the ASX.
Trading on the OTCQX allows for greater access to retail and small institutional investors. With investors being able to trade and settle in US hours and US dollars, allowing for greater visibility and accessibility of the Company.
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The OTCQX is the top market tier operated by OTC Market Group, Inc. in New York, on which over 11,000 US and global securities trade. Upgrading to the OTCQX Market is an important step for companies seeking to provide transparent trading for their U.S. investors.
For companies listed on a qualified international exchange, streamlined market standards enable them to utilise their home market reporting to make their information available in the U.S. To qualify for OTCQX, companies must meet
high financial standards, follow best practice corporate governance and demonstrate compliance with applicable securities laws.
Trading of Paladin shares on the OTCQX allows the Company to access new capital and to expand its shareholder base in the US, without the duplicative regulatory requirements of a US exchange listing by using Paladin’s home country disclosure in English in lieu of SEC reporting.